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6 Pages

Pre-FID project deferrals: impact on global oil supply


Pre-FID project deferrals: impact on global oil supply

Report summary

Planned future oil projects that have not yet received a final investment decision (FID) are a crucial element of future global oil supply. Many have been deferred over the past year as the economics no longer stack up under low oil prices. Wood Mackenzie has conducted extensive analysis of these projects to determine the volumes deferred as a result of the oil price fall. On a like-for-like basis over two million b/d of oil supply has already been deferred by early 2020 as companies delay the sanctioning of projects.
This report covers:
What has happened to pre-FID projects since 2014?
What does project deferral do to the pre-FID outlook?
Which countries and resource themes have been the most heavily affected?
Ongoing deferral of these projects will continue to be a tangible consequence of lower prices and plays a key role in shaping future oil supply.  

What's included?

This report includes 1 file(s)

  • Pre-FID project deferrals: impact on global oil supply PDF - 506.36 KB 6 Pages, 0 Tables, 6 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive Summary
  • Pre-FID projects: where are we now?
  • Over two million b/d deferred by 2021 on a like-for-like basis
  • Brazil leads the way in like-for-like deferred volumes
  • Global pre-FID projects delayed by over a year
  • Deepwater and ultra-deepwater hit hardest – due to higher costs
  • Further deferrals anticipated as price recovery takes time

In this report there are 6 tables or charts, including:

  • Executive Summary
  • Pre-FID projects: where are we now?
    • Migration of pre-FID reserves (billions) from 2014
    • Total pre-FID production Q3 2014 vs Q3 2015
  • Over two million b/d deferred by 2021 on a like-for-like basis
    • Like-for-like pre-FID production profiles
  • Brazil leads the way in like-for-like deferred volumes
    • Like-for-like pre-FID production changes by country
  • Global pre-FID projects delayed by over a year
    • Average like-for-like pre-FID project start times from Q3 2014 to Q3 2015
  • Deepwater and ultra-deepwater hit hardest – due to higher costs
    • Like-for-like pre-FID production changes by resource theme
  • Further deferrals anticipated as price recovery takes time
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