Press Esc to close



For full content view: Log in Now!

  • Deepwater statistical report

    A. Murray

    With international oil companies facing stiff competition for resource capture opportunities, Wood Mackenzie looked at discovery trends in deepwater basins to examine whether deepwater continues as the most exciting opportunity in global exploration. Explorers continue to find volumes in excess of a billion barrels in deepwater basins; however, the biggest finds no longer deliver top-level returns. Since 2002, full-cycle Internal Rate of Return (IRR) on new billion-barrel resources in deepwater have fallen to near 15% from around 25%. Cost inflation is the most directly identifiable reason. Higher day rates for specialist rigs increase both finding and development costs. This has been evident since 2004. On top of this, a mixture of higher prices for input materials has pushed costs up further. Development costs have also been affected by shortages in floating equipment and subsea installation markets. The increasingly uncertain environment around deepwater costs and returns means that projects are taking longer to sanction.

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial

2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.

If you are already a paid subscriber and do not have access, please email



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology