Oil Sands and the Arctic Continue to be the Most Expensive Resources - CBS 5 - KPHO

Oil Sands and the Arctic Continue to be the Most Expensive Resources

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SOURCE Rystad Energy

OSLO, Norway, June 20, 2014 /PRNewswire/ --

Rystad Energy estimates that oil sands and the Arctic continue to be the most expensive resources, with an average breakeven price of 75-80 $/boe. The attractiveness of the resources has declined over the past years, mainly as a result of the introduction of North American shale. The break-even price of NA shale is estimated at an average of 60-70 $/boe.

     (Photo: http://photos.prnewswire.com/prnh/20140620/693492 )

Offshore is still in the race with lower break-even prices than U.S. and Canadian shale developments (ultra-deepwater at 55-60 $/boe; deepwater at 50-55 $/boe and offshore shelf at 40-45$/boe).

"Though offshore projects have recently experienced a slowdown in investment levels, this decline is part of a natural cycle, and activity levels are expected to increase again. Both Deepwater and Ultradeepwater are necessary to develop in order to meet our demand outlook of around 100 million boe/d in 2020," says Espen Erlingsen, Senior Analyst at Rystad Energy.

Rystad Energy's demand outlook is just above IEA's demand outlook of 98 million boe/d in 2020.

About Rystad Energy 

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy is headquartered in Oslo, Norway, with additional research teams in Asia. Further presence has been established in the UK (London), USA (New York & Houston), Russia (Moscow), Africa as well as South East Asia.

Related Links 

http://www.rystadenergy.com/AboutUs/NewsCenter/PressReleases/global-liquids-cost-curve

Contact Information
Julia Weiss
Senior Marketing Manager
Rystad Energy
Main:    +47-24-00-42-00
Direct:  +47-24-00-42-90
Mobile:  +47-48-29-87-61
Email: julia.weiss@rystadenergy.com

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