H1 2019 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea - UK Leads Natural Gas Production Outlook
Summary
A total of 69 planned and announced crude oil and natural gas projects are expected to start operations in the North Sea, during the period 2019-2025. In 2025, key projects in the North Sea are expected to contribute about 1,095 thousand barrels of oil per day (mbd) of global crude and condensate production, and about 2,188 million cubic feet per day (mmcfd) of global gas production from planned and announced projects. Among countries, the UK leads with the highest number of 37 planned and announced projects, followed by Norway, the Netherlands and Denmark.
However, Norway is expected to spend the highest new-build capital expenditure (capex) of US$21.2bn on the development of the planned and announced projects, among the countries in the North Sea, during the period 2019-2025. The high new-build capex of Norway on flagship projects such as Johan Sverdrup will help the country to lead crude production in the North Sea, contributing more than 70% of the total crude and condensate production from major planned and announced projects in 2025.
The UK, the Netherlands and Denmark follow Norway with US$18bn, US$0.8bn and US$0.6bn, respectively, on the development of the planned and announced projects. In terms of operating expenditure (opex), the UK leads with US$9.9bn, closely followed by Norway with US$9.7bn and Denmark with US$1.3bn. Among companies, Equinor ASA, Aker BP ASA and Total SA are expected to have the highest capex of US$7.9bn, US$3.3bn and US$2.5bn, respectively between 2019 and 2025.
The report "H1 2019 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea - UK Leads Natural Gas Production Outlook", reveals that in the North Sea, around US$18.8bn is expected to be spent on the development of the 24 planned projects with identified development plans and US$21.8bn on 45 early-stage announced projects that are undergoing conceptual studies and are expected to get approved for development.
Scope
Reasons to Buy
Summary
A total of 69 planned and announced crude oil and natural gas projects are expected to start operations in the North Sea, during the period 2019-2025. In 2025, key projects in the North Sea are expected to contribute about 1,095 thousand barrels of oil per day (mbd) of global crude and condensate production, and about 2,188 million cubic feet per day (mmcfd) of global gas production from planned and announced projects. Among countries, the UK leads with the highest number of 37 planned and announced projects, followed by Norway, the Netherlands and Denmark.
However, Norway is expected to spend the highest new-build capital expenditure (capex) of US$21.2bn on the development of the planned and announced projects, among the countries in the North Sea, during the period 2019-2025. The high new-build capex of Norway on flagship projects such as Johan Sverdrup will help the country to lead crude production in the North Sea, contributing more than 70% of the total crude and condensate production from major planned and announced projects in 2025.
The UK, the Netherlands and Denmark follow Norway with US$18bn, US$0.8bn and US$0.6bn, respectively, on the development of the planned and announced projects. In terms of operating expenditure (opex), the UK leads with US$9.9bn, closely followed by Norway with US$9.7bn and Denmark with US$1.3bn. Among companies, Equinor ASA, Aker BP ASA and Total SA are expected to have the highest capex of US$7.9bn, US$3.3bn and US$2.5bn, respectively between 2019 and 2025.
The report "H1 2019 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea - UK Leads Natural Gas Production Outlook", reveals that in the North Sea, around US$18.8bn is expected to be spent on the development of the 24 planned projects with identified development plans and US$21.8bn on 45 early-stage announced projects that are undergoing conceptual studies and are expected to get approved for development.
Scope
- Oil and gas production outlook by key countries and companies in North Sea
- Planned projects count and starts by key countries and companies in the region
- Details of key planned crude and natural gas projects in North Sea
- Capex and opex outlook by key countries and companies in the region.
Reasons to Buy
- Understand oil and gas production outlook for the North Sea
- Keep abreast of key planned production projects in the region
- Facilitate decision making on the basis of strong oil and gas production outlook
- Develop business strategies with the help of specific insights on North Sea production and capex outlook
- Assess your competitor’s planned oil and gas production projects.
Table of Contents
1 Table of Contents
2. Production and Capital Expenditure Outlook in the North Sea
3. Appendix
List of Tables
List of Figures
