World Energies Summit Panel Recap: Strategic Shifts in Global Upstream

Last month’s discussion with leaders from ExxonMobil, Chevron, Equinor, Woodside Energy, and TGS unpacked the realities shaping upstream exploration in an era of transition and volatility...

Geopolitics defines the game
Volatility isn’t new, but it is now a constant. Companies are prioritising stable jurisdictions, trusted partnerships, and long-term policy alignment to navigate complexity.

Capital discipline meets exploration urgency
Global exploration spend is down 50% from a decade ago, while reserve replacement remains low. There is a need to reinvigorate exploration through material, high-impact opportunities that justify long-term investment.

Government partnerships matter more than ever
Fiscal competitiveness, regulatory clarity, and transparency are key to attracting capital. Success stories like Egypt, Indonesia and Angola show what’s possible when policy and industry align.

Exploration is essential. Again.
Despite cautious budgets, momentum is returning. The industry’s challenge: to find, fund, and develop resources sustainably while enabling the energy transition.