The appetite to invest in new offshore oil projects has been languishing, due to fears over the energy transition, a preference for share-buybacks, and intensifying competition from short-cycle shale. So can technology revive offshore and deep-water? This note outlines our ‘top twenty’ opportunities. They can double deep-water NPVs, add c4-5% to IRRs and improve oil price break-evens by $15-20/bbl.
Pages 9-18 of the note outline each of our ‘top twenty’ focus areas, after reviewing 1,500 patents and 300 technologies across the industry. In each case, we outline which companies are most advanced.
Our work shows it is essential to invest with – or have your resources managed by – technology leaders. The industry must also keep improving, to re-excite investment.