Opinion

Over $81.4bn Will be Spent on Top 10 Oil and Gas Upstream Projects in South America to 2025, Says GlobalData


Over $81.4bn in capital expenditure (capex) will be spent over the lifetime of the top ten upcoming oil and gas upstream projects in South America to produce 8.4 billion barrels of oil equivalent, according to GlobalData, a leading data and analytics company.

These 10 projects, selected from 73 upcoming projects in South America, will contribute incremental capacity of 1.4 million barrels of oil equivalent (mmboe) to global supply by 2025.

PR1656

IMAGE FOR PUBLICATION: Please click here for enlarged chart

Among the top ten upcoming projects in the region, nine are conventional oil developments and one is heavy oil, with eight projects located in ultra-deepwater and two projects located in deepwater. Libra Central field in Brazil is the largest with anticipated peak production at 448 thousand barrels of oil equivalent in 2029 at a lifetime capex of $20.6bn. Carcara is the next largest project with an anticipated peak production at 233.8 thousand barrels of oil equivalent in 2024 at an estimated lifetime capex of $10.6bn.

GlobalData reports the average development breakeven oil price for top upcoming deepwater and ultra-deepwater projects in South America is at $50.5 per barrel and $40 per barrel, respectively. Ultra-deepwater Buzios III (Franco) in the US has the highest net present value per barrel of oil equivalent at $6.9.

Differentiating for water depth, GlobalData expects full-cycle capital expenditure per barrel of oil equivalent to average $16.7 for deepwater and $9.5 for ultra-deepwater.



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...

GlobalDataOilgaso&gupstreamSouth Americalatin america

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 4 months 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 8 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 1 year 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 1 year 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 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice