Coatings are widely used for effective control of external corrosion on offshore piping systems. During use micro-cracks form in the coating resulting in exposure of the substrate to the environment which can lead to catastrophic failure of critical components. This paper presents a low-cost self-healing coating that significantly extends the service life of the coating. Potential healing agents were evaluated and an air-drying triglyceride was identified as the best low cost solution. Self-healing coatings were fabricated by incorporating urea-formaldehyde encapsulated healing agents into epoxy and were evaluated for mechanical performance corrosion resistance and self-healing performance. Research into optimization and long term durability and performance of low-cost self-healing coating materials is ongoing.