GlobalData’s report, H2 2018 Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in FSU – Russia Accounts for Most of Capex in Region states that a total of 54 crude and natural gas projects are expected to start operations in four countries in the Former Soviet Union (FSU) during 2018–2025. Among these, 24 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 terms of number of oil and gas projects in the FSU, Russia leads among countries with 25 announced and 22 planned projects. Kazakhstan follows with one announced and two planned projects, respectively.
Proposed capital expenditure (capex) of $45.1bn is expected to be spent between 2018 and 2025 to bring the planned projects online in the FSU, while $51.0bn is expected to be spent on key announced projects.
Among countries, Russia is expected to account for almost all the capex on planned projects in the FSU, with $45.1bn expected to be spent during 2018–2025.
Among early-stage announced projects, Russia once again accounts for most of the capex with $47.7bn, followed by Azerbaijan and Uzbekistan with $1.5bn and $1.0bn, respectively.
Major planned and announced projects count and capex by country in FSU, 2018–2025
| Source: Upstream Analytics © GlobalData |
Among operators, Gazprom leads with the highest operatorship, with four announced and two planned natural gas projects. Rosneft Oil Co follows with three planned projects and two announced projects.
The highest level of spending on early-stage announced projects is by Gazprom, Novatek, and Rosneft Oil Co with $28.4bn, $6.7bn, and $6.1bn, respectively. Gazprom and Rosneft Oil Co also have the highest capex on planned projects with $26.0bn and $13.1bn respectively.
