Opinion

Energy Companies Set to Spend US$43.1bn on New Projects in the North Sea From 2018-2025, Says GlobalData

Posted by OilVoice Press - OilVoice

26-Oct-2018


The highest operatorship energy company in the North Sea is Equinor ASA with nine planned and announced projects during 2018–2025, says GlobalData, a leading data and analytics company.

GlobalData's latest report, ‘H2 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea – Equinor ASA Leads in Total Oil and Gas Production', reveals that a total of 67 crude and natural gas projects by four countries operating in the North Sea are expected to start operations during 2018–2025. New project investment in the North Sea is expected to be US$43.1bn with around US$18.9bn being spent to bring the planned projects online and US$24.2bn invested on key announced projects.

Jonathan Markham, Energy Analyst at GlobalData comments, “In 2025, key projects in the North Sea are expected to contribute about 1,327.4 thousand barrels of oil per day (mbd) of global crude and condensate production and about 1,924.4 million cubic feet per day (mmcfd) of global gas production. In terms of the number of planned oil and gas projects, the UK leads with 11, followed by Norway and the Netherlands with eight and two, respectively. The UK also leads in terms of announced projects with 25, followed by Norway and the Netherlands with 18 and two, respectively.”

PR3272 (3)

IMAGE FOR PUBLICATION: Please Click Here: ‘Major planned and announced projects count and capex by key countries in the north sea, 2018–2025'

Norway is expected to invest the highest capital expenditure (capex) of US$21.2bn during 2018-2025 comprising US$12.8bn on key planned projects plus US$8.4bn on announced projects.

The UK comes a close second with a planned capex spend of US$20.2bn which includes US$5.6bn on key planned projects and US$14.6bn on announced projects during the same period.

Equinor ASA, Lundin Petroleum AB, and Petoro AS have the highest level of spending on planned projects with US$6.4bn, US$2.2bn, and US$1.9bn, respectively.

Bridge Petroleum 4 Ltd, Aker BP ASA, and Whalsay Energy Ltd have the highest level of spending on early-stage announced projects with US$4.7bn, US$2.2bn, and US$2.1bn, respectively.



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.

GlobalDataEnergyNorth SeaUK North SeaOffshoreprojectsEquinor EnergyEquinorNorwayUnited Kingdom

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 2 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 6 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 10 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 10 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 10 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice