Offshore staff
LONDON – Britain could account for 25% of all oil and gas projects set to start up by 2025, according to GlobalData.
The consultant’s report ‘Europe Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’ identifies 111 projects expected to start operations in the UK during the 2021-2025, of which 83 will be upstream projects, 23 will midstream, three refinery, and two petrochemical.
Soorya Tejomoortula, oil & gas Analyst at GlobalData, said: “The shallow waters of the North Sea will continue to drive the growth of upstream production projects in the UK.
“The upcoming projects’ list has a good mix of both oil and gas developments and will help the country to continue to meet its oil and gas needs and reduce reliance on imports.”
Rosebank in deepwater west of Shetland is one of the key contributors with a planned production capacity of 121,000 boe/d.
GlobalData also expects 23 UK midstream projects to start up in 2021-2025, including the 236-km (147-mi) Rosebank export pipeline taking gas to the UK mainland, with an estimated cost of $2 billion.
Deborah, the consultant added, is another potential midstream project in the UK for underground storage of gas, with a likely capacity to store 174 bcf, and a cost of $3 billion. Deborah is a depleted gas field in the southern North Sea, operated by Eni.
03/12/2021
