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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.

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Table of contents

Tables and charts

This report includes 10 images and tables including:

Images

  • 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

Tables

  • Project appendix – the big 46

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