A recently published report entitled Global Oil and Gas Risks and Rewards(GOCRR)by global energy consultant Wood Mackenzie compares exploration performance and returns for international oil companies(lOCs)in 66 areas across 58 countries between 1994 and 2003.Using Wood Mackenzie proprietary data and commercial models specific to given fields and areas,the independent study assesses the value created by exploration over the last 10 years.
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