Rystad Energy: Offshore still in the race

Rystad Energy estimates that oil sands and the Arctic continue to be the most expensive resources, with an average breakeven price of 75-80 $/boe.

Break-even prices for non-producing assets

 
The attractiveness of the resources has declined over the past years, mainly as a result of the introduction of North American shale. The break-even price of NA shale is estimated at an average of 60-70 $/boe.

Offshore is still in the race with lower break-even prices than U.S. and Canadian shale developments (ultra-deepwater at 55-60 $/boe; deepwater at 50-55 $/boe and offshore shelf at 40-45$/boe).

“Though offshore projects have recently experienced a slowdown in investment levels, this decline is part of a natural cycle, and activity levels are expected to increase again. Both Deepwater and Ultradeepwater are necessary to develop in order to meet our demand outlook of around 100 million boe/d in 2020,” says Espen Erlingsen, Senior Analyst at Rystad Energy.

Rystad Energy’s demand outlook is just above IEA’s demand outlook of 98 million boe/d in 2020.

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy is headquartered in Oslo, Norway, with additional research teams in Asia.  Further presence has been established in the UK (London), USA (New York & Houston), Russia (Moscow), Africa as well as South East Asia.

Press Release, June 20, 2014

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply