Oil & Gas
ONE hundred and thirty new crude and natural gas projects will start operations in Asia between 2018 and 2025. By 2025, the projects will contribute around 518 thousand barrels per day (mbd) to global oil production and close to 11.5 billion cubic feet per day, bcfd, to global gas production, according to GlobalData, a leading data and analytics company.
The majority of new developments, or 76 projects, fall under an early-stage category, while 54 of the new projects have progressed to well-defined development plans. Differentiating for the primary resource type, conventional oil and gas projects account for 76 and 44 of new projects, respectively. The region will see five CBM, three heavy oil, and two unconventional gas projects among its upcoming developments.
India will lead with a total of 62 projects, followed by China with 20 and Indonesia with 19. Malaysia will drive natural gas production, contributing 3.8 bcfd to the region’s gas production by 2025. China will be responsible for the largest contribution to oil and condensate production with the country’s upcoming projects adding 195 mbd between 2018 and 2025.
Among companies participating in new projects in Asia, China National Offshore Oil Corporation will see the highest contribution to its oil and condensate production from upcoming fields with 149.6 mbd by 2025. Upcoming projects in Asia will contribute 96.6 mbd to Oil and Natural Gas Corporation Ltd and 33.1 mbd to Chevron Corporation by 2025. On the gas side, Oil and Natural Gas Corporation Ltd will see 1,786 million cubic feet per day (mmcfd) brought in by new projects by 2025.
Offshore developments will be responsible for over 90 percent of Asia’s new gas production in 2025, shallow water fields will bring 5,976 mmcfd, deepwater and ultra-deepwater will contribute 2,723 and 1,720 mmcfd respectively. New onshore gas projects will add 1,068 mmcfd to the region’s gas production by 2025.
Similarly to gas, close to 88 percent of new oil production in 2025 will come from offshore fields. Shallow water fields will contribute 321 mbd, deepwater and ultra-deepwater developments will bring on 94 and 40 mbd respectively by 2025. The remaining 12 percent of Asia’s oil and condensate production in 2025, or 64 mbd, will come from onshore fields.
– Mar. 21, 2018 @ 20:09 GMT |
Tags: 130 new oil and gas projects in Asia to commence production by 2025 - GlobalData
