How do 'clean energy Supermajors' and 'oil and gas Majors' really compare in ambition and approach to renewable power generation, and what possible implications does this have?
After a torrid 2020, the outlook for the offshore EPC market in 2021 looks promising, boosted by projects deferred from 2020.
We start the year off with our review of 2020 high impact exploration activity, and a look into key wells to watch for 2021, summarised by Westwood's Head of Global Exploration & Appraisal, Graeme Bagley.
Westwood’s analysis of 3 E&P peer groups – the five Supermajors, four selected National Oil Companies (“NOCs”) and 17 selected US Shale producers, suggests that 2021 capital expenditures are likely to remain relatively flat or decrease slightly compared to 2020, at a US$50/bbl Brent (US$45/bbl WTI) oil price assumption.
After a turbulent 2020 for the oil and gas industry, 2021 is expected to see a modest rise in investment in the UK and Norway offshore sectors, assuming a US$50 per barrel average oil price. Exploration activity could recover to 2019 levels and investment in new developments is set to increase.
With the Energy Transition gaining pace, several Exploration and Production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks.
The UK’s path to reaching net-zero by 2050 will result in a structural shift in...
5 drillships retired so far in 2020 – average age is under 10 years Lifetime...
This oil and gas, potentially, worth more than $65[1] bn and costing an estimated $24bn to discover, represents 40% of the volume found in high impact discoveries in the period. Where is this resource located? Why is it stranded and how big an opportunity does it represent?
This note gives a preliminary assessment of the Premier Oil & Chrysaor deal, from each company’s perspective and the outlook for the merged company and the wider North Sea M&A market.
Phone : +44 (0)20 3794 5380
Email : info@westwoodenergy.com
