Counting the costs

The cost of much needed oil exploration and production projects has spiralled recently. Roderick Bruce looks at what is driving the cost rises and what their effect may be

Surging global demand for oil has driven a wave of new exploration and production projects in recent years. However, oil majors are facing spiralling capital costs in bringing new projects online and this has already caused some projects to be postponed or shelved completely.

Capital costs for the oil industry have risen exponentially since 2000, with some costs up almost 80%. All the way along the exploration and production chain a lack of capacity, due to years of underinvestment, is

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here