Here are the largest oil and gas construction projects initiated globally in Q4 2021, according to GlobalData’s construction projects database.
1. Payara Deepwater Oil Field Development – $9,000m
The project involves the development of the Payara deepwater oil field on the Stabroek block, about 200km offshore from Guyana.
Construction work started in Q4 2021 and is expected to be completed in Q4 2024.
The Guyana Basin is a relatively unexplored area with very few drilling activities being carried out.
2. Tuban Olefin Complex Development Project – $4,900m
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The project involves the construction of an olefin production complex with a production capacity of 1 million tons of Polyethylene and 600,000 tons of Polypropylene in Tuban, East Java, Indonesia.
Construction work commenced in Q4 2021 and is expected to finish in Q4 2024.
The main aim of the project is to develop petrochemical facilities to produce methanol, propylene, and polypropylene from natural gas.
3. Baltic Offshore Pipeline – $2,500m
The project involves the construction of a Baltic Pipeline of 120km between Rodvig, Denmark, and Niechorze, Poland.
Construction work started in Q4 2021 and is forecast to complete in Q4 2022.
The Baltic Pipeline project has been included on EU’s list of important infrastructure projects which are deemed essential to the integration of the European energy networks. The project has been granted EU funds to perform a feasibility study.
4. NOLA Oil Terminal – $930m
The project involves the construction of an oil terminal on 64ha of land in St. James, Louisiana, the US.
Construction work commenced in Q4 2021 and is expected to be completed in Q4 2025.
The aim of the project is to provide an oil terminal in the region and be able to accommodate the company’s needs.
5. Waitsia Gas Processing Plant: Stage II – $526m
The project involves the construction of new gas processing plant with a production capacity of 250 terajoules per day (TJPD) in Dongara, Western Australia, Australia.
Construction work started in Q4 2021 and is expected to be completed in Q2 2023.
The project aims to contribute to the stable supply of LNG to meet increasing global demand as well as to continue supplying domestic gas for use by Western Australian manufacturers and consumers.
This analysis is drawn from GlobalData’s global construction projects database, which tracks new construction projects over $25m from announcement to completion.
Verdict’s parent company GlobalData plc provides business information to 4,000 of the world’s largest companies.