GlobalData, a leading research and consulting firm, predicts that Russia will bring on-stream 29 new oil and natural gas projects by 2025. The company’s latest report states that, among operators, Gazprom is expected to lead with six planned natural gas projects. The other major operators in the Former Soviet Union are Surgutneftegas with five projects and Rosneft Oil Company with two.
“Even with the recent production cuts, Russia remains the leader in the region with a healthy pipeline of planned assets,” says Anna Belova, GlobalData’s senior oil and gas analyst for the region.
These projects are expected to add 800 thousand barrels of oil/day (mmb/d) to global crude production and 11.9 billion cubic feet/day (bcf/d) to global gas production. By 2025, Rosneft will on-stream another 540.8 barrels of oil equivalent/day (mboe/d), followed by Gazprom and Surgutneftegas with 250 mboe/d and 17 mboe/d respectively.
In terms of capital expenditure (capex) in the region, around $43.1 billion (U.S.) is expected to be spent during the forecast period, with total expenditure of key planned projects to come on-line standing at $113 billion. From 2017-2025, Russia is expected to lead the region with a capex of $41 billion on key projects, of which $10.4 billion will be spent on the Sakhalin 3 project.
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