Oil and Gas Final Investment Decisions (FIDs) in 2024, H1 Edition
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Oil and Gas FIDs Market Report Overview
The oil & gas FIDs market report H1 2024 edition provides valuable insights into the major projects targeted for FIDs in 2024 across the oil and gas value chain.
Key Upstream Projects Targeting FIDs in 2024 | Whiptail, Bonga North, Zama, South Lokichar Development (Phase 1), and Sea Lion |
Key Midstream Projects Targeting FIDs in 2024 | Coral Norte Floating, Akwa Ibom Floating, Papua, Sonora Phase I Train III, Cedar Floating, and Brownsville |
Key Downstream Projects Targeting FIDs in 2024 | Tuban II, St James Parish Renewable, Kibaale, Ciudad Dorada Renewable Expansion I, Ciudad Dorada Renewable Expansion II, and Ciudad Dorada Renewable |
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Oil and Gas Final Investments Decisions by Projects
Upstream Projects Targeting FIDs in 2024: In the upstream sector, Africa has the highest volumes of remaining reserves from greenfield projects targeting FIDs in 2024 due to the development of giant projects such as Bonga Southwest/Aparo in Nigeria, and Brulpadda/Luiperd in South Africa. A total of nine brownfield upstream projects are targeting FIDs in 2024, with three being in Denmark, two in Brazil, and one each in Indonesia, Azerbaijan, Australia, and Morocco.
A few of the major upstream projects targeting FIDs are Elk-Antelope (Papua LNG), Bonga Southwest/Aparo, and Kaskida. Elk-Antelope (Papua LNG) is a massive conventional gas project located in onshore Papua New Guinea. The FID of the project is targeted in Q4 2024, and operations are expected to start in 2028. On the other hand, Bonga Southwest/Aparo is another giant conventional oil project proposed in the deep waters of the Gulf of Guinea, offshore Nigeria. The FID of the project is planned for the fourth quarter of 2024 and is expected to come online in 2026.
Upstream Projects Targeting FIDs by Region, 2024
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Midstream Projects Targeting FIDs in 2024: In the midstream sector, LNG liquefaction projects account for six of the eight projects targeting FIDs in 2024, as suppliers continue to bet on strong demand for LNG in the future. All six projects are being planned in six different countries (one each in the US, Mozambique, Mexico, Papua New Guinea, Canada, and Nigeria). A floating LNG regasification project is also planned in Mozambique mainly to provide gas for a proposed power plant in Maputo. Furthermore, Canada is expected to witness FID for a transmission pipeline to supply gas to Cedar Floating LNG liquefaction plant.
A few of the major LNG liquefaction projects targeting FIDs are Brownsville, Papua, and Cedar Floating. Brownsville and Papua are onshore LNG liquefaction projects targeting FID in 2024. Both projects are expected to start operations in 2028. Whereas Cedar Floating is an offshore LNG liquefaction project planned in British Columbia, Canada. The project is expected to start operations in 2028 with a capacity of 3 mtpa.
Downstream Projects Targeting FIDs in 2024: In the refinery segment, of the 11 projects expected to receive FIDs in 2024, seven are standalone renewable refineries indicating a growing trend toward the production of renewable fuels. On the conventional (crude oil) refineries side, three cracking-type refineries in Finland, Indonesia, and Uganda, apart from a condensate splitter-type refinery in South Africa, are targeting FIDs. Additionally, in the petrochemicals segment, major projects expected to receive FIDs are in Indonesia, India, and the US. In Indonesia, a total of 19 projects are being targeted for FIDs in 2024.
Ciudad Dorada Renewable and Tuban II are the major refinery projects targeting FIDs in 2024. Ascension Clean Energy Donaldsonville Ammonia Plant is an ammonia production plant planned in Louisiana, US, expected to start operations in 2027 with a capacity of 7.2 mtpa.
Scope
- Analysis of remaining reserves of greenfield upstream production projects planned for FIDs by region in 2024.
- Key details of upstream production projects targeted to receive FIDs in 2024
- Brief analysis of major projects expected to receive FIDs across key segments of the midstream sector.
- Key details of midstream projects targeted to receive FIDs in 2024
- Brief analysis of major projects expected to receive FID in refinery and petrochemical segments.
- Key details of refinery and petrochemical projects targeted to receive FIDs in 2024
Reasons to Buy
- Keep abreast of major projects targeted for FIDs in 2023 across the oil and gas value chain.
- Develop business strategies with the help of specific insights about projects expected to receive FIDs in 2024.
- Obtain the latest information on projects expected to receive FIDs in 2024.
- Facilitate decision-making based on strong project data.
- Assess your competitor’s projects targeted to receive FIDs in 2024.
Table of Contents
Frequently asked questions
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Which are the key upstream projects targeting FIDs in 2024?
The key upstream projects targeting FIDs in 2024 are Whiptail, Bonga North, Zama, South Lokichar Development (Phase 1), and Sea Lion among others.
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Which are the key midstream projects targeting FIDs in 2024?
The key midstream projects targeting FIDs in 2024 are Coral Norte Floating, Akwa Ibom Floating, Papua, Sonora Phase I Train III, Cedar Floating, and Brownsville among others.
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Which are the key refining and petrochem projects targeting FIDs in 2024?
The key refining and petrochem projects targeting FIDs in 2024 are Tuban II, St James Parish Renewable, Kibaale, Ciudad Dorada Renewable Expansion I, Ciudad Dorada Renewable Expansion II, and Ciudad Dorada Renewable among others.
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