UK Will Dominate New Crude and Natural Gas Projects in North Sea Region to 2025, says GlobalData
A total of 36 crude and natural gas projects are expected to commence operations in the North Sea by 2025, with the UK being responsible for 25, while nine will be located in Norway and the remaining two in Denmark, according to research and consulting firm GlobalData.
The company’s latest report states that of these planned projects, 31 will be for crude, with all five gas projects to be undertaken by the UK. In terms of their impact on global crude production, key planned projects in the North Sea are expected to contribute 819,000 barrels of oil per day (mbd) and 1.1 billion cubic feet of gas per day (bcfd) by 2025.
Joseph Gatdula, GlobalData’s Senior Upstream Analyst, explains: “The UK will contribute the most planned projects in the North Sea region to 2025 as most new fields are smaller, less expensive tie-backs that utilise existing infrastructure.”…. (Single User License $ 1.500)