• CERAWeek
  • March 18 - 22, 2024

Pritesh Patel

S&P Global

Executive Director, Capital Costs Analysis Forum

Pritesh Patel leads the team of experts that analyze and assess upstream capital and operating costs, under today’s complex construction environment. Mr. Patel is an expert in oil and gas conceptual development studies both onshore and offshore. He has more than 25 years of domestic and international expertise in project management and strategic consulting. Mr. Patel has investigated the full range of offshore oilfield development scenarios including subsea systems, floating production systems, and boosting technologies. He has also been involved in business strategy development and industry forecasting, enabling him to develop a broad interest and understanding of worldwide industry issues and trends.​ Mr. Patel leads the Costs and Supply team in S&P Commodity insights. Together, these services provide insights in demand, supply, and costs trends across the upstream space and are a key reference and benchmark to any upstream asset. He was responsible for the creation of the Upstream Capital Cost Indices, which are now the standard for cost escalation in the industry. Previously, he led the development of the asset valuation software, QUE$TOR, which is the standard used by operating companies in early-phase cost estimating. ​He has also worked on a number of consulting projects, which have included everything from detailed design of facilities and assets, developing company strategies, to assisting countries in licensing rounds. ​Before joining S&P Global, Mr. Patel worked as a chemical engineer at ExxonMobil Refinery in Gravenchon, France, and a number of research projects at Purdue University.​ Mr. Patel holds a BEng in chemical engineering from Bradford University and a master’s degree in process chemical engineering from Loughborough University, United Kingdom. Pritesh Patel leads the team of experts that analyze and assess upstream capital and operating costs, under today’s complex construction environment. Mr. Patel is an expert in oil and gas conceptual development studies both onshore and offshore. He has more than 25 years of domestic and international expertise in project management and strategic consulting. Mr. Patel has investigated the full range of offshore oilfield development scenarios including subsea systems, floating production systems, and boosting technologies. He has also been involved in business strategy development and industry forecasting, enabling him to develop a broad interest and understanding of worldwide industry issues and trends.​ Mr. Patel leads the Costs and Supply team in S&P Commodity insights. Together, these services provide insights in demand, supply, and costs trends across the upstream space and are a key reference and benchmark to any upstream asset. He was responsible for the creation of the Upstream Capital Cost Indices, which are now the standard for cost escalation in the industry. Previously, he led the development of the asset valuation software, QUE$TOR, which is the standard used by operating companies in early-phase cost estimating. ​He has also worked on a number of consulting projects, which have included everything from detailed design of facilities and assets, developing company strategies, to assisting countries in licensing rounds. ​Before joining S&P Global, Mr. Patel worked as a chemical engineer at ExxonMobil Refinery in Gravenchon, France, and a number of research projects at Purdue University.​ Mr. Patel holds a BEng in chemical engineering from Bradford University and a master’s degree in process chemical engineering from Loughborough University, United Kingdom.

Sessions With Pritesh Patel

Tuesday, 7 March

  • 11:55am - 12:45pm (CST) / 07/mar/2023 05:55 pm - 07/mar/2023 06:45 pm

    Supply Chain Disruption in an Era of Inflation & Transition

    Upstream Oil & Gas
    Capital and operating costs have experienced high inflation over the past year, not only in upstream oil and gas developments but also for a variety of energy transition technologies as well. Supplier priorities shifted as they adapted to a low-demand environment, and with the sudden rush of orders operators are facing unexpectedly high costs and long lead times, both of which have had a severe impact on the economic viability of their projects. How are procurement strategies changing? How will supply chains need to adapt? What strategies may operators take to mitigate risk and reduce costs?