Insight
Pre-FID project deferrals: 20 billion boe and counting
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Report summary
Over 45 major project FIDs have now been deferred due to lower oil prices, creating a substantial hole in the industry investment pipeline. We estimate 20 billion boe of reserves has been pushed back from a diverse range of onshore, shallow-water and deepwater developments. Many of these projects have low IRRs and high breakevens, meaning significant work is required to make them attractive investments in a world of greater financial discipline.
Table of contents
- Executive summary
- Billions on the backburner
- Why these projects?
- Significant oil volumes
- Project economics – breakevens
- Project economics – IRR
- Where next from here?
Tables and charts
This report includes 10 images and tables including:
- Deferred projects by country and commercial reserves (million boe)
- Deferred reserves by resource theme (bn boe)
- Operator exposure to projects
- Projects by country / liquid reserves (bn bbl)
- Projects by country / gas reserves (tcf)
- Breakevens of standalone projects, by theme
- Breakevens of standalone projects, by region
- Forecast capex by project, split by returns (IRR)
- Breakdown of project spend, by returns
- Project appendix – the big 46
What's included
This report contains:
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