APPEA 2013: The next wave?

The Australian petroleum production and exploration association (APPEA) 2013 conference provided much food for thought. Unlike past years when the sense of collective buoyancy was palpable, this year there was a definite theme of reflection. The sector is now deeply aware that much of its cost structure is no longer globally competitive. With the current fleet of mega-liquefied natural gas (LNG) projects now each well advanced towards completion, there was much talk about needing to prepare for ‘the next wave’ of investment. In our view, the next wave is likely to look very different to the last. We think the smaller and more nimble players are best placed to benefit from market dynamics over the next five or more years.

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