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Impact of oil price on upstream investment, costs and production in Asia Pacific
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Since the oil price crash, Wood Mackenzie's Asia Pacific upstream capex forecast is down 21% (US$39 billion) in 2016-2017, versus our view in Q4 2014. The biggest factor in the reduced spend is not cost deflation, but the deferral of investment in brown- and greenfield projects and as a result, the region loses output of 1.6 million boe/d through to 2020. E&A spend has plummeted as well, despite a reduction in well costs of over 40% from 2014 levels. In the current environment, key project decisions are unlikely to be made before 2017.
Table of contents
- Impact of oil price on upstream investment, costs and production in Asia Pacific
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