Recent project approval activity suggests that 2018 could see 200 projects approved by year-end. Collectively, $127 billion of offshore and onshore projects could be approved by year-end. Subsea tiebacks have been favored the most by operators in 2018. Collectively, nearly $21 billion in subsea tieback projects have been approved, with an additional $12 billion forecasted by year-end. Nearly $42 billion of to-be-sanctioned offshore and onshore projects in the second half of 2018 require breakeven prices above $60/bbl.
– Matthew Fitzsimmons, VP Oilfield Services, Rystad Energy
