Page 21: of Offshore Engineer Magazine (Mar/Apr 2026)

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MARKETS EXPLORATION owever, post-2035, deepwater production is set to enter decline unless the hopper of pre-

FID deepwater projects is replenished in the

H medium to long term. But this will require a tangible step up in exploration investment.

With IOCs maintaining a strong focus on capital disci- pline and applying strict criteria to new investment, only the most resilient and commercially attractive deepwater projects are progressing to FID. Operators are now lever- aging on new technologies and contracting solutions to cut costs, shorten cycle time and improve project economics.

Standardisation and Consolidation

Standardisation is playing a key role in cutting project cycle times and costs and Welligence data highlights a clear correlation between improved project delivery and the de- ployment of standardised solutions. Both the Payara and

Yellowtail deepwater projects in Guyana are based on SBM

Offshore's Fast4Ward standardised hull design and Tech- nipFMC's standardised subsea trees — and both projects were delivered ahead of schedule, a remarkable achievement for deepwater developments of this scale and complexity.

Building on the standardised approach, several IOCs are increasingly embracing the subsea integrated Engineer- ing, Procurement, Construction and Installation (iEPCI) model, which drives stronger contractor engagement and collaboration during the early project phases. Projects such as Shell’s Gato do Mato (Brazil), TotalEnergies’ Gran

Morgu (Suriname), and Equinor’s Bacalhau (Brazil) are all leveraging this approach, with schedule compression being

MARCH/APRIL 2026 OFFSHORE ENGINEER 21