Video: Offshore project cycle times are now both longer and shorter
Are cycle times improving? Looking at the offshore oil and gas project market since 2014, the honest answer is not a single “yes” or “no.” Industry-wide, discovery-to-production lead times have generally lengthened.
At the same time, a subset of well-designed projects—especially standardized hosts, replicas, conversions, and phased or tieback developments—has posted markedly shorter FID-to-first-oil cycles than the pack.
Those two findings look contradictory until they are treated as different measurements.
For a more in-depth analysis:
Are cycle times improving Looking at the offshore oil and gas project market since 2014About the Author
Bruce BeaubouefBruce Beaubouef
Senior Lead Reporter / Managing Editor
Bruce Beaubouef is Managing Editor for Offshore magazine. In that capacity, he plans and oversees content for the magazine; writes features on technologies and trends for the magazine; writes news updates for the website; creates and moderates topical webinars; and creates videos that focus on offshore oil and gas and renewable energies. Beaubouef has been in the oil and gas trade media for 25 years, starting out as Editor of Hart’s Pipeline Digest in 1998. From there, he went on to serve as Associate Editor for Pipe Line and Gas Industry for Gulf Publishing for four years before rejoining Hart Publications as Editor of PipeLine and Gas Technology in 2003. He joined Offshore magazine as Managing Editor in 2010, at that time owned by PennWell Corp. Beaubouef earned his Ph.D. at the University of Houston in 1997, and his dissertation was published in book form by Texas A&M University Press in September 2007 as The Strategic Petroleum Reserve: U.S. Energy Security and Oil Politics, 1975-2005.