The oil price downturn has prompted operators in the deepwater US Gulf of Mexico to reassess their investment priorities. Many are switching their attention from large-scale stand-alone projects to sub-sea tiebacks and feld expansions. The shift in focus could constrain longer-term production growth in the region but is unlikely to have much of an impact before 2020. US Gulf crude output is on track to reach record highs over the next 18 months, underpinned by an invest- ment binge on mega-projects when oil prices were above $100/bl (see graph). Shell’s 50,000 b/d of oil equivalent (boe/d) Stones project is the latest in a long line of greenfeld developments to come on stream in recent years.
展开▼
