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Wood Mackenzie: Deferred projects hit deepwater sector hardest

Offshore default

Wood Mackenzie has updated its analysis published in July 2015 on the impact of continued low oil prices on upstream oil and gas projects. It concludes that in the last six months of 2015, an additional 22 major projects and seven billion barrels of oil equivalent (boe) of commercial reserves have been deferred, on top of the 46 developments and 20 billion boe of reserves identified previously. Deepwater projects have been hit hardest, accounting for over half of the total, as companies are forced to rework projects with high breakevens, large capital requirements and high costs.

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Nigerian forum at OTC to encourage partnerships with OEMs

NCIF

Nigeria seeks to partner with Houston’s well known size of original equipment manufacturers to set up facilities for manufacturing and services in the oil and gas sector in the country. Mr Denzil Kentebe, Executive Secretary of the Nigerian Content Development & Monitoring Board will address the Houston community and potential OEM’s at the Nigeria Content Investment Forum, an initiative powered by SweetCrude Reports. This is a highly anticipated investment event during the Offshore Technology Conference in 2016.

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