In a global context marked by sustainability, security and affordability issues, the role of oil as a future primary energy source is intensely debatedOil production capacities will therefore adjust in an uncertain context questioning:- The nature and extent of resources which can be produced and generate an acceptable return thus defining “economic resources”
– The projected level of costs to explore, develop and produce “economic resources” in the future
– The competition between different types of companies to gain access and produce these economic resources: Integrated Majors (“IOC”), National Oil Companies (“NOC”) controlled by host-countries and smaller players (“Independents”).
– The adjustment of the oil services sector and its relationship with the companies to provide the level of costs required by the future oil supply-demand balance

This presentation will discuss these three angles with concrete examples drawn from recent data and situations.