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10 Pages

Where next for deepwater projects?


Where next for deepwater projects?

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.

What's included?

This report includes 1 file(s)

  • Where next for deepwater projects? PDF - 386.02 KB 10 Pages, 2 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.

  • Summary
  • A slow recovery ahead, but a recovery nonetheless
    • The high grading effect – the pre-FID deepwater cost-curve
  • 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?
  • More hunger please
    • Further data and analysis

In this report there are 8 tables or charts, including:

  • Summary
  • A slow recovery ahead, but a recovery nonetheless
    • Where next for deepwater projects?: Image 1
  • Deepwater costs need to keep falling
    • Where next for deepwater projects?: Image 2
  • Big fish in a smaller pond
    • Where next for deepwater projects?: Table 1
    • Where next for deepwater projects?: Image 3
    • Where next for deepwater projects?: Image 4
  • A levelling playing field?
    • Pre-FID oil capex/breakevens by country
    • Where next for deepwater projects?: Image 6
  • More hunger please
    • Project appendix: 45 pre-FID deepwater projects
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