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Norwegian Continental Shelf - prospects for the future

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Report summary

Norwegian investment has been hit by the oil price downturn. US$50 billion has been removed from our outlook between 2016 and 2020 with over ten projects having been deferred or made sub commercial. What does this mean for future prospects on the NCS? Costs have come down considerably through both cyclical service sector deflation and project optimisation We expect the market to bottom out in 2017 before supply chain demand picks up with oil prices FIDs between now and 2018 are optimal for locking in lower costs and maximising value Optimisation not cyclical benefits is the key to new investment More efficient drilling new technological approaches and scaling down developments stand out

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