The deepwater field development panel at the 2026 Global Women's Leadership Conference (WGLC) in Houston, featuring experts from reputable companies such as Murphy Oil and Ghana National Petroleum, highlighted the challenges facing this industry. The panel was hosted by Sasha Lukes, Asset and Subsurface Development Manager at Gulf of America, a Shell affiliate.
High Costs of Deepwater Field Development
Maggie Sheridan, Operations Engineering Manager at Murphy Oil, stated that the cost of a deepwater well can reach $100 million, and the cost of an offshore platform is nearly $1 billion. The full development of a field can simply reach $5 billion. Sheridan noted that with reserves at a depth of 22,000 feet, there is no room for error in this industry, and any mistake can have severe consequences.
Technical and Technological Challenges
Outma Dzando, Reservoir Engineer at Ghana National Petroleum, pointed out the challenges present in Ghana's deepwater fields. The producing fields include Jubilee, TEN, and Sankofa, all located offshore and at depth. He mentioned three main challenges including access to seabed equipment, costs, and ensuring flow, stating that reliable equipment is needed to solve these issues.
Britain Kordas, Head of Integrated Systems at Trion Development, a Woodside Energy affiliate, also emphasized the need to reduce uncertainties in development projects. He added that much of engineers' professional time is dedicated to projects that have not yet been launched.
Chen Jainski, Project Manager at MODEC, described FPSOs as the bridge between underwater fields and the energy supply chain. He announced that currently, over 200 FPSOs are deployed globally.
Sheridan also stressed the necessity of rotational programs and gaining field experience for new engineers, stating that this industry can be a challenging place for newcomers.
The deepwater field development panel at the WGLC emphasized the importance of long-term investments and decision-making skills, paving the way for valuable discussions regarding the future of this industry.
