Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » North Sea energy spend on new projects to gulp $43.1bn by 2025

    North Sea energy spend on new projects to gulp $43.1bn by 2025

    October 25, 2018
    Share
    Facebook Twitter LinkedIn WhatsApp

    25 October 2018, Sweetcrude, Lagos — The highest operatorship energy company in the North Sea is Equinor ASA with nine planned and announced projects during 2018–2025, says GlobalData, a leading data, and analytics company.

    GlobalData’s latest report, ‘H2 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in the North Sea – Equinor ASA Leads in Total Oil and Gas Production’, reveals that a total of 67 crude and natural gas projects by four countries operating in the North Sea are expected to start operations during 2018–2025. New project investment in the North Sea is expected to be US$43.1bn with around US$18.9bn being spent to bring the planned projects online and US$24.2bn invested on key announced projects.

    Jonathan Markham, Energy Analyst at GlobalData comments, “In 2025, key projects in the North Sea are expected to contribute about 1,327.4 thousand barrels of oil per day (mbd) of global crude and condensate production and about 1,924.4 million cubic feet per day (mmcfd) of global gas production. In terms of the number of planned oil and gas projects, the UK leads with 11, followed by Norway and the Netherlands with eight and two, respectively. The UK also leads in terms of announced projects with 25, followed by Norway and the Netherlands with 18 and two, respectively.”

    Norway is expected to invest the highest capital expenditure (capex) of US$21.2bn during 2018-2025 comprising US$12.8bn on key planned projects plus US$8.4bn on announced projects.

    The UK comes a close second with a planned capex spend of US$20.2bn which includes US$5.6bn on key planned projects and US$14.6bn on announced projects during the same period.

    Equinor ASA, Lundin Petroleum AB, and Petoro AS have the highest level of spending on planned projects with US$6.4bn, US$2.2bn, and US$1.9bn, respectively.

    Bridge Petroleum 4 Ltd, Aker BP ASA, and Whalsay Energy Ltd have the highest level of spending on early-stage announced projects with US$4.7bn, US$2.2bn, and US$2.1bn, respectively.

    Related News

    US oil and gas rig count falls to lowest since January – Baker Hughes

    Crude oil rebound reflects optimism over the U.S.-China dialogue

    Stakeholders hail PINL’s achievements in protecting TNP

    E-book
    Resilience Exhibition

    Latest News

    Nigeria unlocks intra-African trade with new PAPSS policy boost

    May 10, 2025

    Ahead of China-US talks, Trump says 80% tariff ‘seems right’

    May 10, 2025

    US oil and gas rig count falls to lowest since January – Baker Hughes

    May 10, 2025

    Nigeria’s Senate passes tax reform bills to boost government revenue

    May 10, 2025

    E-Call up is desirable in Onne ports – Truckers

    May 10, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.