Oil and gas company cancelled a $380 billion

Oil and gas company cancelled a $380 billion

Moscow. January 14. Oil and gas companies cut spending on new projects the most significant rate over several decades on the background of the collapse in oil prices: according to the consulting company Wood Mackenzie, has already canceled or deferred major projects 68 upstream (exploration and production) value of $380 billion.

According to Financial Times, the reserves at these fields are estimated at 27 billion barrels of oil equivalent (b.N. e.), potential oil production of 2.9 million b.N. uh. a day. According to the estimates of Wood Mackenzie, the majority of them migrated at the beginning of the next decade.

Since June of last year, the volume cuts almost doubled – from $200 billion to $380 billion, and the revised number of projects – about a third.

Most damaging to deep-water drilling because of the high cost of such projects account for more than half of the reductions.

“In the next six months will be delayed all new projects. The trend will continue,” says Angus Rover from Wood Mackenzie.

Brent oil prices dropped in 2015 for the third year in a row, beginning with 2016 prices fell by approximately 18%, to a minimum more than a decade. In the course of trading Wednesday, Brent fell below $30 per barrel for the first time since April 2004.