Shallow water developments will account for 14.1% or 70.3 billion bbls of remaining reserves. The United Arab Emirates has the lowest remaining break-even oil price at US$4/bbl for shallow water developments, while the United States has the highest break-even oil price at US$32/bbl.
Over 77.1% of the countries’ remaining reserves, or 383 billion bbls, will be produced from onshore fields. The United Arab Emirates is the country with the lowest remaining break-even oil price at US$3/bbl for onshore developments, while Canada’s onshore projects have the highest break-even oil price at US$31/bbl.
GlobalData expects that ultra-deepwater developments will be responsible for 30.3 billion bbls of remaining reserves, spread between two countries. Ultra-deepwater projects in the United States and Brazil have a remaining break-even oil price of US$33 and US$37/bbl, respectively.
