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The AAPG/Datapages Combined Publications Database
Southeast Asia Petroleum Exploration Society (SEAPEX)
Abstract
Topical Issues
Asia Pacific Contribution to Global Exploration Performance in an Uncertain-Price, High-Cost World
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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