The current market downturn has turned the spotlight on spiralling project development costs, but a more fundamental shift in oil and gas players’ project planning is needed to prevent costs escalating again once the oil price recovers, a group of executives from major operators told delegates at the Offshore Technology Conference in Houston on Wednesday.
“The key to obtaining capital efficiency is to build a long-term, sustainable portfolio that will meet the requirements of all stakeholders,” said Martijn Dekker, vice president of hydrocarbons maturation at Anglo-Dutch supermajor Shell.
“The
