Insight
Class of 2024: benchmarking this year's upstream FIDs
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Project economics will rebound as Majors priortise advantaged deepwater resources. We expect around 30 projects will reach FID in 2024, up from just 24 in 2023. With many projects delayed or postponed, we expect operators to commit to more projects in 2024 than last year. In total, up to US$125 billion of investment and 14 billion boe could be sanctioned in 2024. NOCs in the Middle East will sanction the largest projects, but the Majors will also be busy.
Table of contents
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Executive summary
- Project economics rebound as Majors priortise advantaged deepwater resources
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Slides and key messages
- Summary and context
- Emissions and decarbonisation
Tables and charts
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What's included
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