Insight
Better project delivery: upstream’s value opportunity
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Has the industry seen the light on project delivery? Signs of improved execution suggest upstream companies are finally getting it right after a lengthy period of dismal returns on new investments. This insight – the latest in our series of thought leadership reports – examines the following: * Why project delivery has been so poor in the past, and the associated financial damage. * What has changed through the downturn, and the key reasons behind better execution. * Whether these signs of improved execution can be maintained.
Table of contents
- Executive summary
- How bad was it really?
- Spreading the pain around
- What went wrong in Australia?
- The financial cost of poor execution
- Turning the ship around
- A golden opportunity for stellar returns
- But can it last?
- The five ingredients for success
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Appendix (1)
- Company case study: Eni
-
Appendix (2)
- For further details of Wood Mackenzie's Project Benchmarking capabilities please contact:
- Renaud Brimont Head of Consulting EMEARC renaud.brimont@woodmac.com
- or
- Piers Moffatt Principal, Upstream Consulting piers.moffatt@woodmac.com
Tables and charts
This report includes the following images and tables:
- Project delay (%) by type, 2006-2016 sanctions
- Capex range (%) by type, 2006-2016 sanctions
- IRR of projects by year of sanction at FID versus now (%), weighted average
- Range of project delays (%) by sanction date
- Capex range (%) by project sanction date
- How major projects got quicker: from FID to start-up and payback, by year of sanction
- Price impact on pre-FID and under dev. IRR
- IRR impact on pre-FID projects by varying capex
- LNG projects by year of sanction and location, with company targets for future sanctions (non-US)
What's included
This report contains:
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