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.

What's included

This report contains

  • Document

    Pre-FID project deferrals: 20 billion boe and counting

    PDF 685.57 KB

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:


  • Project appendix – the big 46


  • 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

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