Libya Top Of New Ventures Survey For 2nd Year - Robertson Research News Release
Libya scored highest yet again in Robertson's International New Ventures Survey, which seeks to ascertain those countries most attractive to international oil companies for new ventures activity.
The "top ten" for 2001 are as follows:
1. Libya
2. Iran
3. Algeria
4. Australia
5. Brazil
6. United Kingdom
7. Egypt
8. Iraq
9. Angola
10. Indonesia
In a confidential questionnaire, 85 international oil companies rated their level of interest in new ventures in 146 countries outside North America, from which global and regional rankings are prepared. Year-on-year movements up or down the rankings are tracked and analysed. 2001 is the 14th year of the survey.
The most popular region is the Middle East, followed by the Far East/Australasia. Outside the top ten the most impressive gains in ranking in 2001 (over 2000) are by Mexico, Ecuador and Morocco, and the biggest falls by Eritrea, Thailand and Myanmar.
An overwhelming 72% of survey participants will increase their global E&P budgets in 2001, with 70% increasing spending on exploration. Independents are the most aggressive in this regard. An average oil price of $23.80/bbl has been used for 2001 planning purposes, up from $18.94 in last year's survey and $13.76 for 1999.
51% of survey respondents are actively seeking new ventures in 2001, 56% indicating that they expect to invest in new projects in countries outside those in which they are presently involved. Interest in gas continues to rise, particularly amongst the majors, and 34% of participants expect to increase their deepwater ventures.
Robertson, the leading international petroleum service and consulting company, carries out new ventures, exploration, appraisal, development and production projects throughout the world. The International New Ventures Survey is conducted annually as a complimentary service for Robertson's extensive list of oil company clients.
For more information contact:
Dr Michael E Scrutton
Email: mes@robresint.co.uk
robresint.co.uk |
