The UK is set to have the highest number of planned and announced crude and natural gas projects in the North Sea over the next seven years, according to a report by GlobalData.The report titled considers projected production and capital expenditure for planned upstream projects in the North Sea between 2018 and 2025.By 2025, around 67 crude and natural gas projects are anticipated to come online in the North Sea. Of these, 21 are planned projects with identified development plans while the remaining 46 are early-stage announced projects at conceptual stage and are expected to be approved.Aggregate crude and condensate production from key projects in the North Sea in 2025 is estimated to be about 1,327.4 thousand barrels of oil per day, while total gas output will be around 1,924.4 million cubic feet per day.Among countries, the UK assumes the leadership role in terms of number of planned oil and gas projects with 11 projects, while Norway and the Netherlands occupy the subsequent places with eight and two projects, respectively.

The UK also has the highest number of announced projects with 25, followed by Norway with 18 and the Netherlands with two.“The UK also has the highest number of announced projects with 25, followed by Norway with 18 and the Netherlands with two.”

Among operators, Equinor Energy has the highest operatorship with nine planned and announced projects, followed by Aker BP and Equinor UK with six and four projects, respectively.During the outlook period, capital expenditure to bring the planned projects online in the North Sea is projected to be around $18.9bn, while announced projects will have $24.2bn.In terms of capex, Norway leads among countries with spending of around $12.8bn by 2025. The UK follows with capex spending of $5.6bn.Meanwhile, the report stated that the UK and Norway will have the highest capex in terms of announced projects with spending of $14.6bn and $8.4bn, respectively. Among companies, Equinor leads in terms of spending on planned projects with $6.4bn followed by Lundin Petroleum and Petoro with $2.2bn and $1.9bn, respectively.In terms of spending on early-stage announced projects, Bridge Petroleum 4 ($4.7bn), Aker BP ($2.2bn), and Whalsay Energy ($2.1bn) are the highest spenders.



Norway currently has the highest number of conventional oil and gas expansion projects under construction globally, according to a recent GlobalData report.

The country remains focused on maximising value through existing fields, primarily operated by majority state-owned company Equinor.

GlobalData records 17 upcoming field expansion projects off the coast of Norway, seven of which are currently under construction. Equinor is operating six of these seven projects.

Expansion efforts could exceed $10bn in capital expenditure (capex) in total and are set to unlock over 3 billion barrels of oil equivalent. Field expansion projects in Norway remain competitive against ongoing planned greenfield developments and are able to unlock reserves at viable investment levels.

Norwegian giant Equinor has a strong track record of maximising recovery from major fields in its home country. The company has been able to achieve recovery factors of more than 50% from large fields such as Statfjord and Gullfaks through enhanced and/or improved recovery mechanisms.

Utilising innovative technologies, improved production efficiency and enhanced recovery practices have been key to Equinor’s success in maximising value from Norwegian fields. The company is targeting 70% recovery from the Johan Sverdrup project.


Redevelopment programmes of the currently abandoned Hod and Tor fields are being finalised, as both have substantial oil volumes remaining. Both developments indicate profitability with project break-evens of just under $48 per barrel.

Central North Sea fields Albuskjell, Brynhild and Mime all ceased production, recovering less than 20% of their oil resources in place. Albuskjell produced for 19 years, recovering just 13% of the total oil resources.

The Albuskjell field produced predominantly from the Upper Cretaceous Tor Formation reservoir but the overlying, less desirable Ekofisk Formation is thought to contain significant untapped resources.

A further 10% recovery at the field could unlock around 35 million barrels of oil. Mime and Brynhild, two relatively small subsea oil developments sit roughly 40 km (25 mi) apart in the Central North Sea.


The development on the Arctic LNG 2 project comprises the design, procurement, fabrication, construction, commissioning and start-up of three LNG trains, with a capacity of approximately 6.6 million tonnes per annum (MTPA) of LNG and at least 1.6MTPA of stable gas condensate.Saipem is currently designing and building the concrete gravity-based structures the trains will be installed on in the framework of a contract announced in December 2018.The trains will be realised in the Russian Tazovsky district, located in the western part of the Gydan peninsula.