Each field opportunity comes with its own unique constraints requiring adaptive and flexible applications from a variety of processes and systems. The art of field development engineering requires linking interactive and integrated flow of information, best practices, lessons learned, and risk management across all disciplines. This starts with reservoir evaluation and development through surface facilities and transport systems, and production management. Further considerations include finance, procurement and contracting strategy, equipment standardization, and decommissioning. Success of economically challenged field development depends on an experienced team with deep understanding of each respective domain and appreciation in interfacing disciplines. Such a team using a systems approach challenging each constituent system and process in the field development procedure chain will help identify an optimum development plan. In this paper, the strategy, technology, and step changes necessary for successful development of economically challenged fields are identified. This paper will discuss a systems approach for prudent selection of all surface facilities and drilling and completion design taking due account of reservoir uncertainty. The primary focus of this work is deep water fields of Gulf of Mexico with strong analogs for application in other regions of the world including regional socio-political impact. Select development plans for deep water fields, especially the economically challenged fields, capturing the upside potential and managing the down side risk of the reservoir uncertainty. Mitigate the potential for an over and under design of surface facilities. Establish areas where further technology implementation and cost control should be focused. The work has demonstrated that the economically challenged fields could be developed with a systematic development engineering procedure. Step change technology exists but requires qualification and responsible application. Way forward is a process of pragmatic, flexible, and integrated systems approach. Based on the oil price forecast and cost of production, sound development engineering is extremely important. The topics discussed in the paper will help develop some of the challenged deep water fields. Procurement and contracting strategy is very important in overall cost control.