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The AAPG/Datapages Combined Publications Database

Southeast Asia Petroleum Exploration Society (SEAPEX)

Abstract


Proceedings of the 2009 South East Asia Petroleum Exploration Society (SEAPEX) Conference, 2009
Pages 1-21
Topical Issues

Asia Pacific Contribution to Global Exploration Performance in an Uncertain-Price, High-Cost World

Andrew Latham

Abstract

Asian Pacific is a significant region for exploration, vast oil and gas resources await discovery. However explorers should not expect to sustain their high-returns performance of the early 2000s. High costs have more than offset price upside and trimmed returns back to ‘normal’ levels. Most oil exploration is still economic with breakeven prices for full-cycle oil averaging around US $40/bbl. Companies that have the right capabilities and access to opportunities have a bright future in exploration. And finally new ventures signed in the last downturn brought giant exploration success.

Keywords: Upstream costs • Exploration hotspots • Yet-to-find exploration potential

Presented at: 2009 South East Asia Petroleum Exploration Society (SEAPEX) Conference, Singapore, 2009


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