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July 14, 2021

Asia leads upcoming offshore oil and gas project starts by 2025

Asia leads global offshore development with 103 projects and a contribution of 18% of the oil and gas project starts by 2025.

By GlobalData Energy

GlobalData’s latest report, ‘Global Offshore Upstream Development Outlook, 2021–2025,’ indicates that 355 key crude and natural gas offshore projects are expected to start operations in 48 countries. Among these, 130 represent the number of planned offshore projects with identified development plans and 225 represent the number of early-stage announced offshore projects.

Among regions, in terms of planned and announced offshore oil and gas projects, Asia leads with 103 projects, contributing about 29% of the total oil and gas project starts during 2021-2025.  Europe follows with 61 projects.

Among countries, in terms of planned and announced offshore oil and gas projects, the UK leads with 46 projects, contributing about 18% of the total oil and gas project starts during 2021-2025.  India follows with 32 projects.

Shallow water terrain has the highest number of projects with 122, followed by deepwater terrain with 24 and ultra-deepwater terrain with 19.

Globally, of all the planned and announced projects that are expected to come online by 2025, 54 projects are expected to be developed with subsea systems while 26 and 14 upcoming projects would use FPSOs and wellhead platforms, respectively.

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