28 March 2017, Sweetcrude, Lagos — Russia has the highest number of key planned oil and gas projects in the Former Soviet Union (FSU), with a total of 29 oil and natural gas projects expected to start operations in the country by 2025, according to research and consulting firm GlobalData.
The company’s latest report states that, among operators, Gazprom is expected to lead with six planned projects, all of them yielding conventional gas. The other major operators in the FSU region are Surgutneftegas and Rosneft Oil Company, with five and two projects, respectively.
“Even with the recent production cuts, Russia remains the leader in the region with healthy pipeline of planned assets,” notes Anna Belova, GlobalData’s Senior Oil & Gas analyst for the FSU region.
Russian key planned projects are expected to add 0.8 million barrels of oil per day (mmbd) to global crude production in 2025, and 11.9 billion cubic feet per day (bcfd) to global gas production.
By 2025, Rosneft Oil Company will be adding around 540.8 thousand barrels of oil equivalent per day (mboed), followed by Gazprom and Surgutneftegas with 250 mboed and 17 mboed, respectively.
In terms of capital expenditure (capex) in the region, around US$43.1 billion is expected to be spent during the forecast period, with total expenditure of key planned projects expected to come online standing at US$113 billion.
During the 2017 to 2025 period, Russia is expected to lead the region with a capex of US$41 billion spent on key planned projects, of which US$10.4 billion will be spent alone on the Sakhalin 3 project. Gazprom is expected to spend a total of US$31.8 billion on planned projects.