Supermajors’ Cost Index: How Efficient are they in Developing their Assets? | Petroleum Africa

  • The ‘lower for longer' oil price environment has forced oil and gas companies to look hard at their cost structures.
  • Despite development costs accounting for more than 50% of total costs, the industry currently acks a widely accepted measure for assessing efficiency in this area.

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Supermajors Cost IndexBPShellConocoPhillipsExxonMobilTotalEniStatoilMuktadir Ur RahmanApex Consulting LtdEconomic drivers of UpstreamUpstream oil and gasupstreamUPstream ProjectsIndexCostDevelopment Capital ExpenditureDevelopment costReservesReserves ManagementReserves AuditsChevronChevron Corporation

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Study: Oil, Gas Development Costs Fall, But Could Go Lower

Looking specifically at seven supermajors—BP, Royal Dutch Shell Plc (NYSE: RDS.A), Eni (NYSE: E), Chevron Corp. (NYSE: CVX), ExxonMobil Corp. (NYSE: XOM), Total (NYSE: TOT) and ConocoPhillips (NYSE: COP)—development cost per barrel of oil equivalent (boe) increased by 66% between 2011 and 2015, bu ...

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