Proved Oil & Gas Reserves of the Global Top 20 Integrated Oil and Gas Companies decreased in 2008, down from 147.2 billion barrels of oil equivalent (boe) in 2007 to 145.2 billion boe in 2008. The decline in the total oil and gas reserves was driven by the decline in the oil reserves, proved oil reserves of the Global Top 20 Integrated Oil and Gas Companies declined by 2.5%, from 93,591 Million Barrels (MMbbl) in 2007 to 91,213 MMbbl in 2008. However, total proved gas reserves of the Global Top 20 Integrated Oil and Gas Companies increased to 366.5 Tcf in 2008, up by 1.5% from the previous year. The reported oil and gas reserves volumes were impacted by the negative reserves revisions reported by the companies as a result of the drop in commodity prices at the end of 2008.
Exxon Mobil Corporation had the highest proved oil and gas reserves of 21,114.83 MMboe among the Global Top 20 Integrated Oil and Gas Companies. The company’s proved reserves increased at a CAGR of 0.2% from 20,954.3 MMboe in 2004 to 21,114.8 MMboe in 2008.
Total oil & gas production of the Global Top 20 Integrated Oil and Gas Companies was 10,369 MMboe in 2008, down by 1.4% from 2007. Oil production of the Global Top 20 Integrated Oil and Gas Companies was 6,809 MMbbl in 2008, down by 2.5% from 2007. However, gas production of the Global Top 20 Integrated Oil and Gas Companies went up by 1.6% from 21,092 Bcf in 2007 to 21,424 Bcf in 2008. OJSC Rosneft Oil Company witnessed the highest oil and gas production growth rate among the Global Top 20 Integrate Oil and Gas Companies. The company’s oil and gas production grew significantly at a CAGR of 51.1% during 2004-08.
Increased exploration and drilling activities along with a significant rise in unproved property acquisition costs led to the total rise in total costs incurred by Global Top 20 Integrated Oil and Gas Companies to $199.8 billion in 2008, up by 22.1% from the previous year. Total acquisition spending increased significantly by 40.7% in 2008, up from $25.7 billion in 2007 to $36.2 billion in 2008, mainly on account of rise in unproved property acquisition costs.
Royal Dutch Shell Plc by spending $8,215.0 million in acquisition activities in 2008, ranks first among the Global Top 20 Integrated Oil and Gas companies. The company’s acquisition cost increased at a CAGR of 125.4% from $318.0 million in 2004 to $8,215.0 million in 2008.\
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GlobalData’s new report on Global Top 20 Integrated Oil and Gas Companies Benchmarking Analysis provides analysis on operational and financial parameters of the Global Top 20 Integrated Oil and Gas Companies. The report analyses the performance of companies based on indicators such as reserves & production, capital expenditure, costs, acreage, performance metrics, and results of oil & gas operations. It helps in spotting strengths and weaknesses of the 20 leading Integrated Companies.
Global Top 20 Integrated Oil and Gas Companies Benchmarking Analysis report is based on publicly available data filed with the U.S. Securities and Exchange Commission (SEC) and other similar agencies worldwide.
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