wm brand Cost Insights

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

Key Cost Trends in EMEA Upstream: September 2021 - December 2022 Forecast

December 2, 2021 at 11:56 AM / by Wood Mackenzie Supply Chain

Our EMEA Oil & Gas Upstream Market Report provides granular historical and granular cost trends for key categories of spend.

In our November 2021 report, we expect deflation of -2.4% in CAPEX costs and inflation of 3.3% in OPEX costs over the next 12 months.

Notable cost trends include sharp reverses from recent bullish inflation with OCTG costs expected to fall by -29.6%, Subsea Equipment costs by -14.2% and Production Chemicals costs by -0.8% from September to December 2021.




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