Insight

Europe investment and costs trends: costs to bottom out in 2017

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Contact us about this report

Report summary

Operating costs have been cut across Europe with some countries achieving reductions in excess of 25%. Some of the biggest reductions have come from the North Sea where market deflation project efficiencies and increased production have driven down US$ operating costs per barrel by over 30%. Projects continue to be optimised. But confidence is also up with 16 projects added to the pre FID portfolio in Europe since last year. Although supply chain costs are expected to bottom out in 2017 we expect around 75% of capex and half of opex savings to remain in place by the end of the decade. This is part of Wood Mackenzie's 2017 series of regional cost insights focusing on capital and operating expenditure trends in the global upstream industry. Please look out for our coverage of other regions and global highlights.

What's included

This report contains

  • Document

    Europe investment and cost trends.pdf

    PDF 1.40 MB

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898