摘要Since July 2014, when the international oil price slumped, the upstream sector of global oil and gas industry has experienced a tough transformation phase lasting over two years. In terms of the development trend, the global upstream sector has demonstrated six characteristics since 2017:firstly, global upstream investment will probably demonstrate the trend of "touching the ground and rising again"; secondly, upstream operating costs will continually decline; thirdly, more favorable finance and taxation clauses will be offered for some resources to be developed through foreign cooperation; fourthly, global oil and gas output will probably further increase; fifthly, upstream exploration efficiency is anticipated to steadily increase; and sixthly, upstream geological understandings, theory and technology will continue to advance. In accordance with the above-mentioned development trends, Chinese oil enterprises must be prepared in four aspects for future rejuvenation. Firstly, persistent upstream investment has to be guaranteed, particularly in the exploration field; secondly, upstream operation efficiency must be promoted through the enhancement of technical research; thirdly, overseas upstream property must be purchased within the "time window"; and fourthly, reforms have to be carried out to realize transformation in the petroleum industry.
Abstract：Since July 2014, when the international oil price slumped, the upstream sector of global oil and gas industry has experienced a tough transformation phase lasting over two years. In terms of the development trend, the global upstream sector has demonstrated six characteristics since 2017:firstly, global upstream investment will probably demonstrate the trend of "touching the ground and rising again"; secondly, upstream operating costs will continually decline; thirdly, more favorable finance and taxation clauses will be offered for some resources to be developed through foreign cooperation; fourthly, global oil and gas output will probably further increase; fifthly, upstream exploration efficiency is anticipated to steadily increase; and sixthly, upstream geological understandings, theory and technology will continue to advance. In accordance with the above-mentioned development trends, Chinese oil enterprises must be prepared in four aspects for future rejuvenation. Firstly, persistent upstream investment has to be guaranteed, particularly in the exploration field; secondly, upstream operation efficiency must be promoted through the enhancement of technical research; thirdly, overseas upstream property must be purchased within the "time window"; and fourthly, reforms have to be carried out to realize transformation in the petroleum industry.
Hou Mingyang. Development Trend and Revelations Regarding the Oil and Gas Upstream Sector[J]. 中国油气, 2017, 24(1): 42-47.
Hou Mingyang. Development Trend and Revelations Regarding the Oil and Gas Upstream Sector. China Oil & Gas, 2017, 24(1): 42-47.
2017, Vol. 24 
