Russia's Gazprom leads in total production outlook to 2020 among national oil companies (NOC), according to data and analytics company GlobalData on Wednesday.
GlobalData said that among the NOCs considered, Gazprom, Rosneft, Statoil, India's ONGC, Colombia's Ecopetrol, Petrobras and Petronas, Gazprom has the largest remaining reserves with 84.5 billion barrels of oil equivalent for producing planned and announced fields.
"Gazprom is followed by Rosneft with 37.3 billion barrels of oil equivalent," said GlobalData. "Russian NOCs also lead in terms of oil and gas production entitlement up to 2020," it added.
According to GlobalData, Gazprom has the highest production out of those listed. And this is expected to increase marginally from 3,333 million barrels of oil equivalent (mmboe) in 2018 to 3,591 mmboe by 2020.
"The production of Rosneft could also increase from 2,064 mmboe in 2018 to 2,235 mmboe by 2020. Only Ecopetrol鈥檚 production is expected to decrease from 194 mmboe in 2018 to 175 mmboe in 2020," the data company reported.
GlobalData's oil and gas analyst Raj Shekhar said in a written statement that in terms of a break-even oil price, Petronas leads with the lowest median of $7 per barrel across all of its planned and announced projects expected to start by 2025.
"Rosneft is a distant second with a break-even price of $13," he added.
Shekhar continued, 鈥淎mong the NOCs considered, Rosneft reported the highest annual total revenue of US$107 billion in 2017 followed by Petrobras with $90.2 billion. In terms of operating income, Statoil is in the lead with $13.8 billion in 2017, followed by Petrobras with $12 billion.鈥�
Rosneft had the highest merger and acquisitions activity in 2017 with a total deal value of $10.1 billion from seven transactions, followed by Petronas with $8.5 billion from five transactions.
In terms of capital raising activity, Rosneft also leads among the NOCs considered with $14.6 billion in 2017 from three transactions followed by Petrobras with $13 billion from 12 transactions.
By Murat Temizer
Anadolu Agency