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  1. Qatar Petroleum to drive Qatar gas production in 2021
  2. New conventional oil projects drive capex in Africa
  3. Major South American projects to add 1.4 million barrels of oil equivalent by 2025
  4. New Zealand bans offshore oil and gas exploration
  5. Panoro Energy completes drilling DTM-2H well offshore Gabon

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Qatar Petroleum to drive Qatar gas production in 2021

Over $9.9bn in capital expenditure (capex) will be spent by Qatar-focused operators on gas projects over the next four years to ensure that country’s production will remain around 18.1 billion cubic feet per day (bcfd) in 2021, according to GlobalData. Conventional gas projects will be the only source of gas production in Qatar between 2018 and 2021.

New conventional oil projects drive capex in Africa

GlobalData expects that over $180bn will be spent on 88 upcoming oil and gas fields between 2018 and 2025. Capital expenditure into Africa’s conventional oil, heavy oil and unconventional oil projects will add up to $88bn, $2bn and $3bn respectively over the eight-year period. Conventional gas projects will require $86bn, while the investments into unconventional gas and coal bed methane (CBM) projects will total $1.2bn and $0.1bn in upstream capital expenditure by 2025.

Major South American projects to add 1.4 million barrels of oil equivalent by 2025

Over $81.4bn in capital expenditure (capex) will be spent over the lifetime of the top ten upcoming oil and gas upstream projects in South America to produce 8.4 billion barrels of oil equivalent, according to research and consulting firm GlobalData. These 10 projects, selected from 73 upcoming projects in South America, will contribute incremental capacity of 1.4 million barrels of oil equivalent (mmboe) to global supply by 2025.

Marginal upturn in total global production outlook

GlobalData’s latest report, “Monthly Global Upstream Review, February 2018 - Marginal Upturn in Total Production Outlook” indicates that during the 2018–2022 outlook period, the global oil and gas production is expected to increase by 3.2%.

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