Eni receives the title of Most Admired Explorer. Italy's oil and gas giant shines at Wood Mackenzie.
The Italian oil and gas giant Eni earned the title of Wood Mackenzie's Most Admired Explorer, (Eni wins the title of most admired oil and gas explorer.) an award given in conjunction with Wood Mackenzie's industry-leading annual Exploration Survey. This is the third consecutive time that Eni has won the award. Eni Director of Exploration Luca Bertelli accepted the award at the inaugural Wood Mackenzie Exploration Awards ceremony.
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Andrew Latham, vice president of global exploration research at Wood Mackenzie, said: “For the past 10 years, Wood Mackenzie has been named the industry's most admired Explorer after comparing the results of our annual industry-leading exploration survey. The survey examines views across the industry, marrying Wood Mackenzie's understanding of the industry with industry opinion. “We asked respondents to nominate the explorer they most admire. The award typically recognizes major discoveries, ideally as an operator and in new frontiers. With this year's award, Italian Eni scores a hat-trick, winning in 2016 and 2017.”
Talos in discovery of the year
Wood Mackenzie's Discovery of the Year (2017) award went to US oil company Talos, which struck oil in Mexico at its Zama well in July 2017. “Talos' partners are Premier Oil and Sierra Oil & Gas. Zama is a great discovery in a new play and looks set to be a company. It is also one of the first offshore discoveries operated in Mexico since international oil companies returned to the country after an absence of more than 70 years. This award was based on our exploration industry opinion poll, which saw more than 200 business leaders and experts vote on the discovery they considered the most exciting of the year,” said Woodmac.
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New Venturer Award for ExxonMobil
Wood Mackenzie's New Venturer Award went to Exxon Mobil, "a company primed to make big bets on high-impact opportunities in proven, emerging, and frontier theater." “The New Venturer of the Year award reflects the need for explorers to continually renew their portfolio. Wood Mackenzie has long argued that capturing good areas is the key differentiator in exploration performance. This award was based on the results of Wood Mackenzie's research and our analysis of licensing and farm-in agreements throughout the year. Both our survey and broader industry opinion came to the same conclusion,” said Woodmac.
The Best E&P Explorer award went to Kosmos Energy. The energy intelligence group said the award reflects "the tremendous contribution that small and medium-sized companies make to the sector". “The award is again based on a mix of our research and our research. Once again, both the industry and Wood Mackenzie's analysis reached the same conclusion. Our winner, Kosmos Energy, had the highest net assets found last year of any company and received the most votes in our survey,” explained Wood Mackenzie.
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Bobby Ryan, who recently announced his retirement from Chevron after leading its global exploration business, received the Lifetime Achievement Award. Ryan led Chevron's global exploration business following its merger with Texaco in October 2000. Wood Mackenzie's Latham said, “The list of discoveries made during his long tenure is impressive. Among the finds operated on during his shift were Wheatstone in Australia, Usan in Nigeria, Tahiti in the Gulf of Mexico and Rosebank in the United Kingdom.
“The Gulf of Mexico has proven a particularly rich seam with St Malo, Big Foot, Jack, Blind Faith and Chevron's latest discovery, Ballymore. Wood Mackenzie estimates that the total gross oil and gas reserves in the discoveries made on Bobby's watch are close to 30 billion barrels. He added: “We are confident that his subsequent tenure, spanning over 17 years, sets the record for length of service at any major level. Bobby is a worthy recipient of the award (Eni wins title of most admired oil and gas explorer).
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