Megaprojects get digital boost

Jan. 16, 2020
Most offshore megaprojects, classified as projects with development costs above $4 billion, to come onstream in 2019 have failed to deliver on time or meet approved budgets, according to Rystad Energy.

Most offshore megaprojects, classified as projects with development costs above $4 billion, to come onstream in 2019 have failed to deliver on time or meet approved budgets, according to Rystad Energy. However, some have beaten the odds. Appomattox in GoM started up months early, cutting costs by over 40% by applying new technologies and drilling programs. Johan Sverdrup in the North Sea also came onstream ahead of schedule and 30% under budget. Digital transformation, standardization, and machine learning could help operators meet their targets and guarantee project delivery success in the future.

− Sara Sottilotta, Analyst, Oilfield Service Team, Rystad Energy