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.
We have estimated the costs of a subsea riser system, for a typical deep-water project; and the potential cost-reduction that can be achieved by using ThermoPlastic Composite Pipe instead (e.g., Airborne, Magma). Savings should be around c45%, or c$20M/riser. Our data-file also includes the order-history to-date for TCP: by project, operator, and geography (below).