07 Jan 2020
Posted in Oil & Gas
Norway to achieve highest crude and condensate production from greenfield projects in Northwest Europe in 2025, says GlobalData
Norway is set to account for 57% of Northwest Europe’s total crude and condensate (liquids) production in 2025 from planned and announced greenfield projects, according to GlobalData, a leading data and analytics company.
The company’s report: ‘2019 Northwest Europe Upstream Development Outlook – Surge in New-Build Oil and Gas Project Starts for 2020’, reveals that of the 901.9 thousand barrels per day (mbd) of crude and condensate production expected from greenfield projects in Northwest Europe, Norway is looking to account for around 516.8mbd.
Of Norway’s total, 276.8mbd is estimated to come from planned projects while 240mbd will be from early-stage announced projects. The country is set to bring online 11 planned and 28 early-stage announced projects between 2020 and 2025.
Adithya Rekha, Oil and Gas Analyst at GlobalData, comments: “Norway has the region’s largest greenfield project – the Johan Castberg – which is expected to produce 170.6mbd of crude and condensate in 2025. D-struktur and Frigg Gamma Delta are the other major shallow water developments in Norway with crude and condensate production of 22.8mbd and 21.6mbd, respectively, in 2025.”
Following Norway, the UK is expected to be the second highest producer of crude and condensate production in Northwest Europe in 2025, with 335.5mbd of crude predicted from planned and announced greenfield projects. Of the total, 48.9mbd is expected to come from planned projects while 286.6mbd will come from announced projects.
Rekha continues: “Key upcoming projects in the UK include Cambo, Bentley and the Galapagos Redevelopment, which will see expected crude and condensate production of 58.6mbd, 45.0mbd and 25.4mbd, respectively in 2025. Cambo is a deepwater development, while Bentley and Galapagos Redevelopment projects are located in shallow water terrain.
“Demark and the Netherlands would collectively account for 5% of Northwest Europe’s total new-build crude and condensate production in 2025. A total 30.4mbd of crude and condensate production is expected from Denmark, while the Netherlands would have 19.2mbd of liquid production in 2025.
“Hejre is the only forthcoming shallow water project in Denmark contributing to the country’s total crude and condensate production in 2025, while the Rembrandt-Vermeer field in the Netherlands is contributing around 18.3mbd of crude oil and condensate production in 2025. Both fields are located in shallow water terrain.”