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Upstream Oil and Gas Opportunities in Key Countries

Upstream Oil and Gas Opportunities in Key Countries

The global upstream sector is undergoing a significant transformation in the light of the drastic fall in oil prices over the past year. Oil prices fell from $􂀀 per barrel in June 2014 to $􂀀 per barrel in August 2015, causing most companies to slash capital expenditure (CAPEX) in upstream oil and gas (O&G) as project profitability declines.

Total upstream CAPEX in the O&G sector in 2014 was $􂀀billion and is set to decline to $􂀀 billion by 2020.

CAPEX is forecast to decline sharply to $􂀀billion in 2015 and is expected to recover only in 2018 as weaker demand growth and new supply coming into the market from Iran and Libya should mean supply exceeds demand till 2017. Going forward, this forecast has been kept as Frost & Sullivan’s base scenario for upstream investments till 2020.

Frost & Sullivan’s optimistic scenario, which assumes an oil price recovery to $ per barrel during 2017, will lead to a recovery in CAPEX investment to $􂀀 billion by 2020, which is still a decline of 􂀀% on the 2014 peak.

If prices stay low for a prolonged period, as assumed in the conservative case, then CAPEX will continue to fall and show minimal recovery by 2020. In this scenario, CAPEX is forecast to reach $􂀀 billion by 2020, a decline of 􂀀% on the 2014 peak.

The United States attracted nearly $􂀀 billion of the global upstream CAPEX in 2014 and is set to decline to $􂀀 billion in 2015 as shale producers respond quickly to lower prices. Companies within OPEC, an umbrella organization of 􂀀 oil exporting countries, have slashed the CAPEX by 􂀀% for 2015, from $􂀀 billion in 2014 to $􂀀 billion.

About this report

This market engineering study covers the opportunities present in the global upstream oil and gas market. The study tracks the current market opportunities and gives an overview of the impact of falling oil prices and the global economic slowdown, in addition to explaining the various factors that act as drivers and restraints. Because of the market’s volatility, this study discusses various scenarios and factors that affect the market. The research service presents an analysis for the onshore and offshore segments, along with scenarios for each segment and a competitive analysis of the top competitors. The study concludes with the major predictions for the global upstream oil and gas market.


  • Executive Summary
    • Key Findings
    • Market Engineering Measurements-Base Case
    • Market Engineering Measurements-Optimistic Case
    • Market Engineering Measurements-Conservative Case
    • CEO's Perspective
    • Associated Research and Multimedia on O&G
  • Market Overview
    • Market Definitions
    • Key Questions This Study Will Answer
    • Market Segmentation
  • Drivers and Restraints-Total Upstream O&G Market
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
  • Scenario Forecast Assumptions-Total Upstream O&G Market
    • Forecast Assumptions
    • Scenario Assumptions
  • Forecasts and Trends-Total Upstream O&G Market
    • Market Engineering Measurements-Base Case
      • Table Total Upstream O&G Market: Market Engineering Measurements-Base Case, Global, 2014
    • Capital Expenditure Forecast-Base Case
      • Table Total Upstream O&G Market: CAPEX Forecast-Base Case Scenario, Global, 2012-2020
    • Capital Expenditure Forecast Discussion-Base Case
    • Market Engineering Measurements-Optimistic Case
      • Table Total Upstream O&G Market: Market Engineering Measurements-Optimistic Case, Global, 2014
    • Capital Expenditure Forecast-Optimistic Case
      • Table Total Upstream O&G Market: CAPEX Forecast-Optimistic Scenario, Global, 2012-2020
    • Capital Expenditure Forecast Discussion-Optimistic Case
    • Market Engineering Measurements-Conservative Case
      • Table Total Upstream O&G Market: Market Engineering Measurements-Conservative Case, Global, 2014
    • Capital Expenditure Forecast-Conservative Case
      • Table Total Upstream O&G Market: CAPEX Forecast-Conservative Case, Global, 2012-2020
    • Capital Expenditure Forecast Discussion-Conservative Case
    • Total Upstream CAPEX
    • Global Hot Spots
    • Regional Discussion
    • Shale Resources
    • Rig Count
    • Rig Count Discussion
  • Market Share and Competitive Analysis-Total Upstream O&G Market
    • Market Share
    • Market Share Analysis
      • Table Total Upstream O&G Market: Company Market Share Analysis of Top 10 Participants, Global, 2014
    • Competitive Environment
    • Top Competitors
    • Competitive Factors and Assessment
  • Onshore Segment Breakdown
    • Market Engineering Measurements-Base Case
      • Table Onshore Segment: Market Engineering Measurements-Base Case, Global, 2014
    • CAPEX Forecast-Base Case
      • Table Onshore Segment: Upstream CAPEX Forecast-Base Case, Global, 2012-2020
    • CAPEX Forecast Discussion-Base Case
    • Market Engineering Measurements-Optimistic Case
      • Table Onshore Segment: Market Engineering Measurements-Optimistic Case, Global, 2014
    • CAPEX Forecast-Optimistic Case
      • Table Onshore Segment: Upstream CAPEX Forecast-Optimistic Scenario, Global, 2012-2020
    • CAPEX Forecast Discussion-Optimistic Case
    • Market Engineering Measurements-Conservative Case
      • Table Onshore Segment: Market Engineering Measurements-Conservative Case, Global, 2014
    • CAPEX Forecast-Conservative Case
      • Table Onshore Segment: Upstream CAPEX Forecast-Conservative Case, Global, 2012-2020
    • CAPEX Forecast Discussion-Conservative Case
    • Total Onshore Upstream CAPEX
  • Offshore Segment Breakdown
    • Market Engineering Measurements-Base Case
      • Table Offshore Segment: Market Engineering Measurements-Base Case, Global, 2014
    • CAPEX Forecast-Base Case
      • Table Offshore Segment: Upstream CAPEX Forecast-Base Case Scenario, Global, 2012-2020
    • CAPEX Forecast Discussion-Base Case
    • Market Engineering Measurements-Optimistic Case
      • Table Offshore Segment: Market Engineering Measurements-Optimistic Case, Global, 2014
    • CAPEX Forecast-Optimistic Case
      • Table Offshore Segment: Upstream CAPEX Forecast-Optimistic Case, Global, 2012-2020
    • CAPEX Forecast Discussion-Optimistic Case
    • Market Engineering Measurements-Conservative Case
      • Table Offshore Segment: Market Engineering Measurements-Conservative Case, Global, 2014
    • CAPEX Forecast-Conservative Case
      • Table Offshore Segment: Upstream CAPEX Forecast-Conservative Case, Global, 2012-2020
    • CAPEX Forecast Discussion-Conservative Case
    • Total Offshore Upstream CAPEX
  • The Last Word
    • The Last Word-3 Big Predictions
  • Appendix
    • Market Engineering Methodology
    • List of Other Companies
    • Abbreviations

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