Impact of oil price on upstream investment, costs and production in Deepwater GoM



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Report summary

Since the oil price drop in late 2014 we have reduced our deepwater Gulf of Mexico capex forecast by US$19 billion (23%) over the 2016 2020 period. Challenges at Lower Tertiary projects have been exacerbated by the down turn in prices leading to delays redesigns and cancellations. Extended appraisal programs at key fields have pushed project timelines to the right.

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