Opinion

81 New Oil and Gas Projects in Europe to Commence Production by 2025, Says GlobalData


81 new crude and natural gas projects will start operations in Europe between 2018 and 2025. By 2025, the projects will contribute around 1,496 thousand barrels per day (mbd) to global oil production and close to 4.7 billion cubic feet per day (bcfd) to global gas production, according to GlobalData, a leading data and analytics company.

The majority of new developments, or 45 projects, fall under an early-stage category, while 36 new projects have progressed to well-defined development plans. Differentiating for the primary resource type, conventional oil and gas projects account for 38 new projects each. The region will see five heavy oil projects among its upcoming developments.

Image

IMAGE FOR PUBLICATION: Please click here for enlarged chart 

The UK will lead with a total of 37 projects, followed by Norway with 28 and Italy with six. Norway will drive natural gas production, contributing 1.6 bcfd to the region's gas production by 2025. Norway will also be responsible for the largest contribution to oil and condensate production with the country's upcoming projects adding 1,072 mbd over the eight-year period. 

Among companies participating in new projects in Europe, Statoil ASA will see the highest contribution to its oil and condensate production from upcoming fields with 409.2 mbd by 2025. Upcoming projects in Europe will contribute 156.1 mbd to Petoro AS and 146.5 mbd to Lundin Petroleum AB by end of the eight year period. On the gas side, Statoil ASA will see 579 million cubic feet per day (mmcfd) brought in by new projects by 2025, followed by Po Valley Energy Ltd and OMV AG with 324 mmcfd and 323 mmcfd respectively.

Offshore developments will be responsible for over 84 percent of Europe's new gas production in 2025, deepwater fields will bring 1,862 mmcfd, shallow water and ultra-deepwater will contribute 1,668 and 452 mmcfd respectively. New onshore gas projects will add 764 mmcfd to the region's gas production by 2025. Similarly to gas, close to 97 percent of new oil production in 2025 will come from offshore fields. Shallow water fields will contribute 929 mbd, deepwater and ultra-deepwater developments will bring on 515 and 1 mbd respectively by 2025. The remaining 3 percent of Europe's oil and condensate production in 2025, or 51 mbd, will come from onshore fields.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://energy.globaldata.com/media-center/press-r...

GlobalDataOilgasProductioneuropeprojectsOffshoreStatoil ASAStatoilUnited KingdomUK

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 9 days agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 4 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 8 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 8 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 9 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice