Abstract

This is a panel session on how to increase exploration in Asia. Estimating future oil production potentials poses some difficulties including: production potential easily over-estimated, over-optimistic timing of future production common, production decline of old fields often misunderstood or data is withheld, and enhanced recovery potential is often over-estimated. It is also difficult to estimate realistic reserves because much of the remaining oil reserves are not easily produced and the relationship of reserves and field production rates are now harder to determine. Upstream issues in the Asia-Pacific mainly are small sized expected discoveries due to limited availability of acreage in known petroleum basins which in turn limits likely discovery to small-medium Independents. Exploration levels have dropped or have not increased to compensate for future production loss. The panel discusses ways to access acreage, access data and how to deal with fiscal incentives.

Presented at: 2005 South East Asia Petroleum Exploration Society (SEAPEX) Conference, Singapore, 2005