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ANALYSIS planned for 2019, says Imran Khan, senior research manager, are competing stronger than others for the scarce amount of at Wood Mackenzie. Shell leads deepwater GoM development available capital.

drilling, with Anadarko and Chevron also active as well. Rodger believes that companies will continue to focus on

This continued learning is necessary as it takes longer – projects with smaller footprints, as it will be harder to con- perhaps two to three years, often more – for real, structural vince both banks and investors that spending vast sums on cost savings to emerge in deepwater, Rodger explains. In big green? eld projects, particularly outside of North America, basins where drilling has been more sporadic or ceased com- is prudent ? nancial strategy. “Still, the majors can’t just do pletely since 2014, companies considering project sanction- small-cycle, high return investment projects forever, so over ing “can’t instantly go back and just drill wells 20% better time we will still see the best big projects bubble to the top than they did three years ago.” This makes it harder for cost and move forward,” he says, albeit with capital deployed in a de? ation to happen across the board, and means some basins more cautious, phased fashion.

Collaborative contracting

Audrey Leon looks at how BP’s new approach to working with its suppliers have led to quicker project start-up.

“We’re not goldplating anymore,” stated BP’s Global Projects

Organization Head, David O’Connor, at the supermajor’s Houston

Media Day in early December.

O’Connor said BP sought to change the way it does business in the hope of achieving cost cuts and boosting project e