London, May 8 - Neftegaz.RU. GlobalData’s latest report «Quarterly Upstream Benchmarking of NOCs» shows that among NOCs considered – Gazprom, Rosneft, Statoil, ONGC, Ecopetrol, Petrobras and Petronas – Gazprom has the highest remaining reserves for producing, planned and announced fields with 84.5 billion barrels of oil equivalent (bnboe). Rosneft followed with 37.3bnboe.
Russian NOCs also lead in terms of oil and gas production entitlement by 2020. Gazprom has the highest production, which is expected to increase marginally from 3,333 million barrels of oil equivalent (mmboe) in 2018 to 3,591mmboe by 2020.
The production of Rosneft would also increase from 2,064mmboe in 2018 to 2,235mmboe by 2020. Only Ecopetrol’s production is expected to decrease from 194mmboe in 2018 to 175mmboe in 2020.
In terms of break-even oil price, Petronas leads with lowest median of $7 per barrel (/bbl), across all of its planned and announced projects expected to start by 2025. Rosneft is distant 2nd with break-even price of $13/bbl.
Rosneft, Gazprom and Petrobras have the lowest median for break-even gas price, $2/mcf for each of the companies, across their planned and announced projects expected to start by 2025. Rosneft and Gazprom have the lowest median for full cycle capex per boe, with $7.7/boe each. Petrobras follows with $8.2/boe.
Among the NOCs considered, Rosneft reported the highest annual total revenue of $107bn in 2017 followed by Petrobras with $90.2bn. In terms of operating income, Statoil is in lead with $13.8bn in 2017, followed by Petrobras with $12bn.
Rosneft had the highest M&A activity in 2017 with total deal value of $10.1bn from 7 transactions, followed by Petronas with $8.5bn from 5 transactions.
In terms of capital raising activity, Rosneft also leads among the NOCs considered with $14.6bn in 2017 from 3 transactions followed by Petrobras with $13bn from 12 transactions.