Wood Mackenzie


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About Wood Mackenzie

Wood Mackenzie is the global insight business for renewables, energy and natural resources.

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Wood Mackenzie Logo
Wood Mackenzie Logo
Wood Mackenzie Logo
Wood Mackenzie Logo

Wood Mackenzie is the global insight business for renewables, energy and natural resources.

In the middle of an energy revolution, businesses and governments need reliable and actionable insight to lead the transition to a sustainable future. That’s why we cover the entire supply chain with unparalleled breadth and depth, backed by over 50 years’ experience in natural resources.

Today, our team of over 2,000 experts operate across 30 global locations, inspiring customers’ decisions through real-time analytics, consultancy, events and thought leadership. Together, we deliver the insight they need to separate risk from opportunity and make bold decisions when it matters most.

Articles & News

Courtesy bp
bp announced final investment decision for Phase 1 of the Greater Tortue Ahmeyim LNG development in December 2018.
bp announced final investment decision for Phase 1 of the Greater Tortue Ahmeyim LNG development in December 2018.
bp announced final investment decision for Phase 1 of the Greater Tortue Ahmeyim LNG development in December 2018.
bp announced final investment decision for Phase 1 of the Greater Tortue Ahmeyim LNG development in December 2018.
bp announced final investment decision for Phase 1 of the Greater Tortue Ahmeyim LNG development in December 2018.
Africa

Opportunities growing for LNG offshore West, East Africa

Oct. 20, 2023
An $800-billion capex program related to LNG is developing in Africa, according to Wood Mackenzie.
Courtesy Wood Mackenzie
Woodmac Adnoc Gas Investment Outlook
Woodmac Adnoc Gas Investment Outlook
Woodmac Adnoc Gas Investment Outlook
Woodmac Adnoc Gas Investment Outlook
Woodmac Adnoc Gas Investment Outlook
Middle East

High cost for UAE gas expansion programs, report finds

Oct. 10, 2023
ADNOC will have to spend more than $40 billion if the UAE is to achieve a stated goal of gas self-sufficiency, according to a WoodMac report.
Courtesy Wood Mackenzie and UPME
Gas balance scenarios
Gas balance scenarios
Gas balance scenarios
Gas balance scenarios
Gas balance scenarios
Production

Colombia on course for gas shortfall, report predicts

Sept. 29, 2023
Development of Colombia’s recent offshore gas discoveries, Gorgon, Uchuva and Orca, would need a breakeven range from $6 MMcf to 7/MMcf, according to Wood Mackenzie.
Courtesy Wood Mackenzie
Annual Oil Gas Exploration Spend 2000 2027
Annual Oil Gas Exploration Spend 2000 2027
Annual Oil Gas Exploration Spend 2000 2027
Annual Oil Gas Exploration Spend 2000 2027
Annual Oil Gas Exploration Spend 2000 2027
Drilling & Completion

Attractive economics, need for advantaged barrels good sign for future exploration

Sept. 22, 2023
Oil and gas companies have regained their appetite for exploration drilling, according to analysis from Wood Mackenzie.
Photo 247830369 © Artinun Prekmoung | Dreamstime.com
Co2
Co2
Co2
Co2
Co2
North Sea & Europe

Offshore Europe 2023: Wood Mackenzie calls for greater urgency on carbon capture

Sept. 5, 2023
Governments should step up their support for the CCUS sector, according to Wood Mackenzie.
Courtesy Wood Mackenzie
Exploration spend 2000-2027; Spend is in real 2023 terms
Exploration spend 2000-2027; Spend is in real 2023 terms
Exploration spend 2000-2027; Spend is in real 2023 terms
Exploration spend 2000-2027; Spend is in real 2023 terms
Exploration spend 2000-2027; Spend is in real 2023 terms
Business Briefs

Exploration on the rise, extending to more frontier areas, report finds

Aug. 17, 2023
Global spending on exploration, excluding appraisal, should average $22 billion per year in real terms over the next five years, according to Wood Mackenzie.
Courtesy Wood Mackenzie
Colombia Change In Government Revenue1 Us$mm
Colombia Change In Government Revenue1 Us$mm
Colombia Change In Government Revenue1 Us$mm
Colombia Change In Government Revenue1 Us$mm
Colombia Change In Government Revenue1 Us$mm
Latin America

Colombian oil and gas sector braced for higher taxes

Aug. 2, 2023
Colombia President Gustavo Petro plans for fiscal reform involve higher taxes for extractive industries, according to WoodMac, and hydrocarbons provide the primary source of Colombia...
Photo 34610597 © Cammeraydave | Dreamstime.com
Global Spending
Global Spending
Global Spending
Global Spending
Global Spending
Business Briefs

Upstream spending continues steady recovery, report finds

July 20, 2023
Current global upstream spending is just over half the peak of $914 billion set in 2014 (in 2023 terms), according to a new report from Wood Mackenzie.
Photo 891565 © Thor Jorgen Udvang | Dreamstime.com
Gas Pipelines
Gas Pipelines
Gas Pipelines
Gas Pipelines
Gas Pipelines
Pipelines

Barents Sea gas line back on the agenda, report claims

July 12, 2023
A $5 billion export pipeline linking gas fields in the Barents Sea in Northern Norway to European markets could cut dependence on LNG, according to Wood Mackenzie.
Photo 186004882 © Azman Mohamad | Dreamstime.com
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Field Development

Blocking West of Shetland oil projects counter-productive in terms of emissions

June 27, 2023
Development of the deepwater Rosebank and Cambo oil fields West of Shetland would be far less emissions intensive for the UK than importing the equivalent volumes of oil and gas...

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All content from Wood Mackenzie

Courtesy Wood Mackenzie
Discovered oil and gas by license round
Discovered oil and gas by license round
Discovered oil and gas by license round
Discovered oil and gas by license round
Discovered oil and gas by license round
North Sea & Europe

UK offshore E&P more at risk from fiscal uncertainty than change of administration, WoodMac claims

June 20, 2023
Wood Mackenzie estimates the UK’s yet-to-find prospective resources at just over 1 Bboe, with most of the prospectivity on existing exploration licenses.
ID 27891353 © Nightman1965 | Dreamstime.com
Offshore Rig Shipyard Dreamstime L 27891353
Offshore Rig Shipyard Dreamstime L 27891353
Offshore Rig Shipyard Dreamstime L 27891353
Offshore Rig Shipyard Dreamstime L 27891353
Offshore Rig Shipyard Dreamstime L 27891353
Rigs

Floating rig utilization rebounds to pre-COVID levels

June 12, 2023
Day rates could reach $500,000/day for some UDW rigs, says Wood Mackenzie.
Photo 186004882 © Azman Mohamad | Dreamstime.com
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Offshore Oil And Gas
Business Briefs

Consultant predicts pickup in upstream FIDs

April 13, 2023
Wood Mackenzie expects a small increase in upstream oil and gas final investment decisions this year, with up to $185 billion potentially committed to developing 27 Bboe of resources...
Photo 59963289 © Izanbar | Dreamstime.com
Australia Ccs
Australia Ccs
Australia Ccs
Australia Ccs
Australia Ccs
Australia & New Zealand

Onus on Australian operators to link carbon capture to gas field developments

April 12, 2023
Australia has revised legislation on direct Scope 1 emissions, potentially providing a boost to CCS projects in the region, according to Wood Mackenzie.
Photo 270427603 © F Baarssen | Dreamstime.com
Offshore Wind
Offshore Wind
Offshore Wind
Offshore Wind
Offshore Wind
Renewable Energy

Report: Global wind energy to top 1-TW threshold by year-end 2023

April 11, 2023
Wood Mackenize says the market will see intensified focus on offshore wind, which will grow sevenfold by 2032.
Source: Wood Mackenzie Lens and Exploration Service. Discovered resource includes onstream fields, undeveloped commercial and not viable fields. Excludes resource growth from appraisal upside and improved recovery.
Discovered and prospective resources exceed demand scenarios
Discovered and prospective resources exceed demand scenarios
Discovered and prospective resources exceed demand scenarios
Discovered and prospective resources exceed demand scenarios
Discovered and prospective resources exceed demand scenarios
Production

Exploration can help ease `advantaged’ barrel shortfall, report claims

Feb. 16, 2023
High quality oil and gas supplies are scarce, threatening emissions targets and a healthy energy transition, according to Wood Mackenzie.
Courtesy Wood Mackenzie LinkedIn
Wood Mac
Wood Mac
Wood Mac
Wood Mac
Wood Mac
Company News

Veritas Capital completes acquisition of Wood Mackenzie

Feb. 2, 2023
Veritas Capital, an investor at the intersection of technology and government, has completed the purchase of Wood Mackenzie from Verisk.
Photo 53488646 © Flyingrussian | Dreamstime.com
Offshore Woodmac
Offshore Woodmac
Offshore Woodmac
Offshore Woodmac
Offshore Woodmac
Business Briefs

Majors, NOCs accelerating offshore exploration, report finds

Jan. 31, 2023
Global exploration wells delivered a total of 20 Bboe last year, according to Wood Mackenzie’s "Oil and gas exploration: 2022 in review" report.
Photo 29115315 © Denis7563 | Dreamstime.com
North Sea Oil And Gas
North Sea Oil And Gas
North Sea Oil And Gas
North Sea Oil And Gas
North Sea Oil And Gas
North Sea & Europe

Quiet year ahead for new project FIDs in Norway, report claims

Jan. 20, 2023
Wood Mackenzie’s latest North Sea upstream report predicts that Norway’s offshore oil and gas production will increase to 4.3 MMboe/d this year.