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

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

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

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 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

Table

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

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 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

Frequently asked questions

Semi-Annual Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in North Sea – UK Leads Planned Projects Count thematic reports
Currency USD
$1,500

Can be used by individual purchaser only

$4,500

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Semi-Annual Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in North Sea – UK Leads Planned Projects Count was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Semi-Annual Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in North Sea – UK Leads Planned Projects Count in real time.

  • Access a live Semi-Annual Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in North Sea – UK Leads Planned Projects Count dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.