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Where next for deepwater projects?
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Is deepwater back after nearly three years in the wilderness? A flurry of FIDs and commercial discoveries appears to be reviving a sector starved of new investment during the downturn. But has it really turned the corner? Deepwater project costs are over 20% lower than mid-2014, but for many this is still not enough. Far greater volumes of US tight oil breakeven at a lower price if compared on a like-for-like basis. However, we see considerable scope for further cost cuts in deepwater, while cost inflation in tight oil has returned with a vengeance. The playing field is about to get a lot more level, and this will strengthen the deepwater value proposition.
Table of contents
- Summary
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A slow recovery ahead, but a recovery nonetheless
- The high grading effect – the pre-FID deepwater cost-curve
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Deepwater costs need to keep falling
- Where to go next – the Q4 2016 greenfield deepwater project cost-curve now, and minus 20% capex
- Big fish in a smaller pond
- A levelling playing field?
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More hunger please
- Further data and analysis
Tables and charts
This report includes the following images and tables:
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Where next for deepwater projects?: Table 1Where next for deepwater projects?: Image 3Where next for deepwater projects?: Image 4
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Pre-FID oil capex/breakevens by countryWhere next for deepwater projects?: Image 6Where next for deepwater projects?: Image 1Where next for deepwater projects?: Image 2Project appendix: 45 pre-FID deepwater projects
What's included
This report contains:
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