Semi-Annual Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in North Sea – UK Leads Planned Projects Count

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In North Sea, more than 40 key crude oil and natural gas projects are expected to start operations by 2025. The UK leads with the highest number of planned as well as announced projects, followed by Norway, the Netherlands and Denmark. Key projects in North Sea are expected to contribute up to 940 mbd to global crude production and more than 1,300 mmcfd to global gas production in 2025. Among operators, Statoil Petroleum AS, Statoil UK Ltd and Independent Oil and Gas Ltd lead in terms of operatorship of planned and announced projects.

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

Key Highlights

A total of 46 crude and natural gas projects are expected to start operations in four countries in the North Sea during 2018–2025. Among these, 16 represent the number of planned projects with identified development plans and 30 represent the number of early-stage announced projects that are undergoing conceptual studies and that are expected to get approved for development.

  • In 2025, key projects in the North Sea are expected to contribute about 948.5 thousand barrels of oil per day (mbd) of global crude production and about 1,394 million cubic feet per day (mmcfd) of global gas production.
  • In terms of number of planned oil and gas projects, the UK leads among countries with 10 projects, with Norway and the Netherlands following with five and one projects, respectively. The UK also leads in terms of announced projects with 22, followed by Norway and Denmark with seven and one, respectively.
  • Among global operators, Statoil Petroleum AS and Statoil UK Ltd lead with the highest operatorship with two planned projects each, of which two are crude and two are natural gas projects.
  • In terms of announced projects, Independent Oil and Gas Ltd (IOG) has interest in four early-stage projects, followed by Statoil ASA, Statoil UK Ltd, Aker BP ASA, and Parkmead with two projects each.
  • Proposed capital expenditure (capex) of US$21.7 billion is expected to be spent between 2018 and 2025 to bring the planned projects online in the North Sea, with US$15.2 billion expected to be spent on key announced projects.
  • Among countries, Norway, the UK, and the Netherlands are expected to be the highest capex spenders on key planned projects with about US$12.1 billion, US$7.9 billion, and US$0.4 billion, respectively, during 2018–2025.
  • With early-stage projects, the UK leads with a capex of US$8.9 billion, followed by Norway with US$6.8 billion.
  • Among companies, Statoil ASA, Lundin Petroleum AB, and A.P. Moller - Maersk AS have the highest level of spending on planned projects with US$6.7 billion, US$2.2 billion, and US$2 billion, respectively.
  • The highest level of spending on early-stage announced projects is by Whalsay Energy Ltd, BP Plc, and Aker BP ASA, with US$2.1 billion, US$1.5 billion, and US$1.4 billion spent on capex, respectively.

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 forecast

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Assess your competitor’s planned oil and gas production projects

Table of Contents

1. Table of Contents 1

1.1. List of Tables 2

1.2. List of Figures 3

2. Semi-Annual Production and Capital Expenditure Outlook for ...

1. Table of Contents 1

1.1. List of Tables 2

1.2. List of Figures 3

2. Semi-Annual Production and Capital Expenditure Outlook for North Sea 4

2.1. Key Highlights 4

2.2. Major Planned and Announced Projects Count by Country in North Sea 5

2.3. Major Planned and Announced Project Starts by Country in North Sea 6

2.4. Economic Metrics of Key Planned and Announced Projects by Country in North Sea 8

2.5. Crude Production from Key Planned and Announced Projects by Country in North Sea 10

2.6. Gas Production from Key Planned and Announced Projects by Country in North Sea 13

2.7. Major Planned and Announced Projects by Terrain and Country in North Sea 17

2.8. Key Planned and Announced Crude Projects in North Sea 18

2.9. Key Planned and Announced Gas Projects in North Sea 20

2.10. Capex Outlook for Major Planned and Announced Projects by Country in North Sea 22

2.11. Opex Outlook for Major Planned and Announced Projects by Country in North Sea 24

2.12. Major Planned and Announced Projects Count by Operator in North Sea 26

2.13. Crude and Condensate Production from Major Planned and Announced Projects by Company in North Sea 27

2.14. Gas Production from Major Planned and Announced Projects by Company in North Sea 29

2.15. Capex and Opex Outlook for Major Planned and Announced Projects by Company in North Sea 31

3. Appendix 33

3.1. Abbreviations 33

3.2. Methodology 33

3.2.1. Coverage 33

3.2.2. Secondary Research 33

3.3. Contact Us 34

3.4. Disclaimer 34

List of tables

Table 1: Major Planned and Announced Projects Count by Country, 2018–2025 5

Table 2: Total Crude Production from Major Planned and Announced Projects by ...

Table 1: Major Planned and Announced Projects Count by Country, 2018–2025 5

Table 2: Total Crude Production from Major Planned and Announced Projects by Country, 2018–2025 (bd) 10

Table 3: Total Crude Production from Major Planned Projects by Country, 2018–2025 (bd) 11

Table 4: Total Crude Production from Major Announced Projects by Country, 2018–2025 (bd) 12

Table 5: Total Gas Production from Major Planned and Announced Projects by Country, 2018–2025 (mmcfd) 13

Table 6: Total Gas Production from Major Planned Projects by Country, 2018–2025 (mmcfd) 14

Table 7: Total Gas Production from Major Announced Projects by Country (mmcfd) 15

Table 8: Key Planned Crude Projects, 2018–2025 18

Table 9: Key Announced Crude Projects, 2018–2025 19

Table 10: Key Planned Gas Projects, 2018–2025 20

Table 11: Key Announced Gas Projects, 2018–2025 21

Table 12: Capex Outlook for Major Planned Projects by Country (US$ mil) 23

Table 13: Capex Outlook for Major Announced Projects by Country (US$ mil) 23

Table 14: Opex Outlook for Major Planned Projects by Key Country (US$ mil) 25

Table 15: Opex Outlook for Major Announced Projects by Country (US$ mil) 25

List of figures

Figure 1: Major Planned and Announced Projects Count and Capex by Country, 2018–2025 5

Figure 2: Major Planned Project Starts by Country, 2018–2025 ...

Figure 1: Major Planned and Announced Projects Count and Capex by Country, 2018–2025 5

Figure 2: Major Planned Project Starts by Country, 2018–2025 6

Figure 3: Major Announced Project Starts by Country, 2018–2025 7

Figure 4: Economic Metrics of Major Planned and Announced Crude Projects by Country, 2018–2025* 8

Figure 5: Economic Metrics of Major Planned and Announced Gas Projects by Country, 2018–2025* 8

Figure 6: Economic Metrics of Key Planned and Announced Crude Projects, 2018–2025* 9

Figure 7: Economic Metrics of Key Planned and Announced Gas Projects, 2018–2025* 9

Figure 8: Total Crude Production from Major Planned and Announced Projects by Country, 2018–2025 (bd) 10

Figure 9: Total Crude Production from Major Planned Projects by Country, 2018–2025 (bd) 11

Figure 10: Total Crude Production from Major Announced Projects by Country, 2018–2025 (bd) 12

Figure 11: Total Gas Production from Major Planned and Announced Projects by Country, 2018–2025 (mmcfd) 13

Figure 12: Total Gas Production from Major Planned Projects by Country, 2018–2025 (mmcfd) 14

Figure 13: Total Gas Production from Major Announced Projects by Country (mmcfd) 15

Figure 14: Production Outlook and Contribution from Major Planned and Announced Projects, 2018–2025 16

Figure 15: Major Planned and Announced Projects by Terrain and Country, 2018–2025 17

Figure 16: Capex Outlook for Major Planned and Announced Projects by Country, 2018–2025 (US$ bil) 22

Figure 17: Capex Outlook for Major Planned and Announced Projects by Country, 2018–2025 (US$ bil) 22

Figure 18: Opex Outlook for Major Planned and Announced Projects by Country, 2018–2025 (US$ bil) 24

Figure 19: Opex Outlook for Major Planned and Announced Projects by Country, 2018–2025 (US$ bil) 24

Figure 20: Major Planned and Announced Projects Count by Key Operators, 2018–2025 26

Figure 21: Crude Production from Major Planned and Announced Projects by Key Companies (bd) 27

Figure 22: Crude Production from Major Planned Projects by Key Companies (bd) 27

Figure 23: Crude Production from Major Announced Projects by Key Companies (bd) 28

Figure 24: Gas Production from Major Planned and Announced Projects by Key Companies (mmcfd) 29

Figure 25: Gas Production from Major Planned Projects by Key Companies (mmcfd) 29

Figure 26: Gas Production from Major Announced Projects by Key Companies (mmcfd) 30

Figure 27: Capex Outlook for Major Planned and Announced Projects by Key Companies, 2018–2025 (US$ bil) 31

Figure 28: Capex Outlook for Major Planned and Announced Projects by Key Companies, 2018–2025 (US$ bil) 31

Figure 29: Opex Outlook for Major Planned and Announced Projects by Key Companies, 2018–2025 (US$ bil) 32

Figure 30: Opex Outlook for Major Planned and Announced Global Offshore Projects by Key Companies, 2018–2025 (US$ bil) 32

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