Insight

The challenges of executing projects on-budget and on-time in the UK and Norway

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Report summary

There has been a major increase in upstream activity and development investment in the UK and Norway over the past five years.  This has led to a tight supply chain, cost inflation, delays and the erosion of project returns.  As a result, industry is increasingly focused on project execution performance.  Of the 100 new field developments sanctioned or brought onstream between 2009 and 2013, 74% are over budget and 70% are delayed.  The average cost overrun is 18% and delay is six months.

What's included

This report contains

  • Document

    Project Benchmarking

    PDF 9.27 MB

Table of contents

Tables and charts

This report includes 7 images and tables including:

Images

  • The challenges of executing projects on-budget and on-time in the UK and Norway: Image 1
  • The challenges of executing projects on-budget and on-time in the UK and Norway: Image 2
  • Projects ranked by delay (in months) between expected start-up at FID v. actual start-up or current estimate
  • Project performance ranked by development type
  • Probable developments
  • Future Norway projects
  • Future UK projects

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