Insight
Upstream major capital projects: despite the shift to short-cycle, long life assets remain core
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Report summary
Since the downturn, over 100 major capital projects have been approved for development. The corresponding reserves approved is 73 bnboe. Despite the shift to flexible short-cycle investments, long lived projects still feature very prominently. On average the project lifetime is 24 years. Overall, the industry trend is for a portfolio of projects that provide both investment flexibility and long life. In this Insight, we analyse the production lifetime for approved and pre-FID major capital projects. We analyse the main resource themes, the main operators and the main regions, drilling down to the project lifetime, lead time from FID to start-up and reserves approved.
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