A total of 32 crude and natural gas projects in the North Sea are scheduled to come online by 2025, according to a report by GlobalData.
Entitled 'H2 2016 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea – UK to Lead with Highest Number of Planned Projects', the report projects an investment of $78.2bn to be made in bringing the planned projects online.
By 2025, the planned projects in the region are expected to add 869,000 barrels of oil a day and 996.8 million cubic feet a day to global crude and gas production respectively. The UK has the highest number of planned projects in the region at 22, followed by Norway with nine and Denmark with one.
In terms of operatorship, Statoil ASA will lead the North Sea region operating the highest number of assets, followed by Maersk Olie og Gas AS and EnQuest PLC.
Some of the biggest undeveloped assets in the North Sea region include Bagpuss in the Central North Sea basin, Hejre in the Central Graben, and Clark in the Southern North Sea basin.
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By GlobalData
