In 2015, the largest Western energy company totally made up for proven reserves of oil and gas is only 75% that became the lowest indicator for restoration of reserved for subsequent extraction of volumes of raw materials at least for 10 years. This follows from analysis of these companies ExxonMobil, Royal Dutch Shell, BP, Chevron, Statoil, Eni and Total are conducted by The Wall Street Journal.
The publication notes that, in particular, Exxon for the first time in 20 years, has not fully reconstituted its reserves of hydrocarbons (volumes of proved reserves of the company in 2015 amounted to only 67% of the volume of the extracted raw materials). Until 2015 the rate of replenishment from this company averaged 115%.
The publication notes that lower rates of recovery of stocks of raw materials are one of the consequences of the fall in oil prices. This is confirmed by the manufacturers themselves. “Now it has become equally important to replenish the reserves,” said the WSJ Director of Italian Eni exploration Luca Bertelli. According to him, the company’s strategy now is not in investing in new risky projects, and to complete the development of those fields where production is already underway. With the success of this policy agree Christopher Wheaton Allianz Global Investors: “When the house is burning, you don’t think about whether or not to paint it. At the moment it is crisis management.”
Of the seven largest energy companies Chevron, Eni and Total in 2015 were able to explore more than produce. The level of reproduction of stocks BP was 61%, Norwegian Statoil — 55%. Shell reserves decreased by 20%, but in 2015, the company completed the transaction for $50 billion acquisition of the British BG Group, which will replenish the energy reserves of the company by about 25% from their level in 2014.
In 2015, according to research by Morgan Stanley, the oil sector was launched only six new major projects. In the U.S., according to Baker Hughes at the end of March, the number of drilling rigs fell to the lowest level since November 2009 (before 372), despite the fact that in October 2014 in the US there are more than 1,600 drilling. According to the calculations of investment Bank Tudor, Pickering & Holt, as a result of the decline in oil prices worldwide has been postponed the implementation of 150 projects, total production could reach 13 million barrels per day (15% of current global oil production).