Cost Insights
by PowerAdvocate

Intelligence for energy companies seeking a data-driven approach to cost management

Key Cost Trends in EMEA Upstream: June 2021 - May 2022 Forecast

July 23, 2021 at 4:39 PM / by PowerAdvocate

2021 marks an opportunity for upstream operators to overcome cost challenges presented amid last year's turbulent market through appropriate CAPEX and OPEX forecasting.

In our June update, we identify and provide cost forecasts for key CAPEX categories including OCTG, onshore & offshore drilling rigs; and OPEX categories including production chemicals and offshore support vessels.

Some notable trends include Offshore Support Vessels likely to experience one of the most notable cost increase (~9%) amid price increases in 2022, pushing upwards to 2019 levels, as new projects come online through FID and exploration activities.

Operators are leveraging these forecasts to estimate key cost changes, forecast spend, and use industry data to optimise costs in 2021

If you have any questions or would like to learn more, please don't hesitate to contact us at costinsights@poweradvocate.com. 

EMEA Inflation Image July 2021

 

 

 

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