130 new crude and natural gas projects will start operations in Asia between 2018 and 2025. By 2025, the projects will contribute around 518 000 bpd to global oil production and close to 11.5 billion ft3/d to global gas production, according to GlobalData.
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 5 CBM, 3 heavy oil, and 2 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 billion ft3/d 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 195 000 bpd 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 149 600 bpd by 2025. Upcoming projects in Asia will contribute 96 600 bpd to Oil and Natural Gas Corporation Ltd and 33 100 bpd to Chevron Corporation by 2025. On the gas side, Oil and Natural Gas Corporation Ltd will see 1786 million ft3/d brought in by new projects by 2025.
Offshore developments will be responsible for over 90% of Asia’s new gas production in 2025, shallow water fields will bring 5976 million ft3/d, deepwater and ultra-deepwater will contribute 2723 and 1720 million ft3/d respectively. New onshore gas projects will add 1068 million ft3/d to the region’s gas production by 2025.
Similarly to gas, close to 88% of new oil production in 2025 will come from offshore fields. Shallow water fields will contribute 321 000 bpd, deepwater and ultra-deepwater developments will bring on 94 000 and 40 000 bpd respectively by 2025. The remaining 12% of Asia’s oil and condensate production in 2025, or 64 000 bpd, will come from onshore fields.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/22032018/globaldata-130-new-oil-and-gas-projects-in-asia-to-commence-production-by-2025/