GlobalData: Global offshore projects expected to yield 8.1 mmbd of crude and condensate and 47.3 bcfd of natural gas by 2025
Globally, the total crude and condensate production from announced and planned global offshore projects is expected to be around 8.1 million barrels per day (mmbd) of crude and about 47.3 billion cubic feet per day (bcfd) of natural gas by 2025, according to data and analytics company GlobalData.
The company’s latest report, “” , also reveals that a proposed capital expenditure (capex) of US$201 billion is expected to be spent on the development of global offshore planned projects, and US$361 billion is expected to be spent on key announced offshore projects.
The global top three countries in terms of highest capex will be Brazil, Mozambique and the US respectively.—Anna Belova, Oil and Gas Analyst at GlobalData
Globally, 375 planned and announced offshore crude and natural gas projects are expected to commence operations in 52 countries during the period 2018–2025.
Among these, 152 represent the number of planned projects with identified development plans and 223 represent the number of early-stage announced projects that are undergoing conceptual studies and that are expected to be approved for development, Belova said.
Although Brazil leads the planned projects count, in terms of the total number of upcoming global offshore oil and gas projects expected to start operations during the period 2018-2025, Mexico leads with 39 planned and announced projects followed by the UK with 38 and Brazil with 34.
The leading operators of these offshore projects are Petróleos Mexicanos with the highest operatorship of 32 planned and announced projects, Petroleo Brasileiro SA have 23 and CNOOC Ltd 15.
In terms of total spend Royal Dutch Shell Plc, Petroleo Brasileiro SA and Exxon Mobil Corp have the highest level of spending on the upcoming planned and announced projects with US$55.3 billion, US$38.9 billion and US$38.1 billion, respectively.