Summary
2019 Northwest Europe Upstream Development Outlook - Surge in New-Build Oil and Gas Project Starts for 2020
Summary
The latest report, ‘2019 Northwest Europe Upstream Development Outlook - Surge in New-Build Oil and Gas Project Starts for 2020’, reveals that in Northwest Europe, a total of 94 crude and natural gas projects are expected to start operations in four countries, during the period 2019-2025.The UK leads among countries with 51 upcoming projects, followed by Norway with 40 projects by 2025.
The key oil and gas projects in Northwest Europe are expected to contribute about 902 mbd to global crude production and about 2,913 mmcfd to global gas production in 2025. However, natural gas production for Northwest Europe is forecast to decline by approximately 25% from current levels over the next five years as upcoming projects struggle to offset overall declines.
Gas production fell year on year over the last two years, a trend that is set to continue over the forecast period.The lack of major upcoming gas projects, alongside a production phase out at the giant Groningen gas field, has set a clear downward trend for gas production in Northwest Europe.
Despite rising gas production for Norway and the UK over the near term, declines in the Netherlands, Denmark and Ireland outpace volumes introduced from upcoming projects.
In 2019, oil production in Northwest Europe rose from 2018 levels but gas volumes declined comparatively.Looking forward, Northwest Europe’s oil production is set to rise potentially out to 2023 as major fields ramp up and Johan Castberg production commences.
For gas, the outlook is less optimistic as the number of large gas projects coming on-stream is limited and post 2021 could see dramatic declines in gas production without the addition of future projects.
An increase in project starts can be expected for 2020 to the highest level since 2017, driven mainly by shallow water subsea developments.Of those project starts, the UK is set for a deepwater return, as no deepwater projects came online in 2018 or 2019, and a resurgence to levels last seen in 2017 is predicted.
Across the region, a higher number of oil focused developments are due to startup in 2020. Oil-focused developments are set to see a higher proportion of invested capital over the period.
This likely reflects the development of upcoming major oil projects and a currently more stabilized oil price environment; whereas gas-focused developments are lacking due, in part, to weak domestic gas prices, as well as gas infrastructure constraints in certain basins.
Scope
- Oil and gas production and capex outlook by key countries in Northwest Europe
- Planned projects starts by key countries and project count by basin, field terrain, and facility type in the region
- Latest project updates and details of key planned crude and natural gas projects in Northwest Europe
- Expenditure outlook by key countries, basins, field terrain, facility type and companies in the region
Reasons to buy
- Understand oil and gas production outlook for the Northwest Europe
- Keep abreast of key planned production projects in the region
- Facilitate decision making on the basis of strong oil and gas production outlook
- Develop business strategies with the help of specific insights on Northwest Europe production and capex outlook
- Assess your competitor’s planned oil and gas production projects
Table of contents
1.1. List of Tables 3
1.2. List of Figures 5
2. Overview 7
3. Key Highlights 8
4. Regional Development Trends 9
4.1. Production Outlook 9
4.2. Capex Outlook 10
4.3. Development Outlook 11
4.3.1. Project Starts by Country in Northwest Europe 12
4.4. Major Project Count by Basin 13
4.5. Major Project Count by Terrain 14
4.6. Major Projects by Facility Type 15
4.7. Latest Project Updates 16
5. Oil Development Focus 21
5.1. Crude & Condensate Production Outlook by Country 21
5.2. Crude & Condensate Production Outlook by Basin 24
5.3. Crude & Condensate Production Outlook by Company 27
5.4. Upcoming Oil Projects 30
5.5. Key Economic Metrics of Major Oil Projects 38
5.5.1. Average Project Economics by Country 39
6. Gas Development Focus 40
6.1. Natural Gas Production Outlook by Country 40
6.2. Natural Gas Production Outlook by Basin 43
6.3. Natural Gas Production Outlook by Company 46
6.4. Upcoming Gas Projects 49
6.5. Key Economic Metrics of Major Gas Projects 53
6.5.1. Average Project Economics by Country 54
7. Expenditure Outlook 55
7.1. New Project Expenditure Outlook by Country 55
7.2. New Project Expenditure Outlook by Basin 57
7.3. New Project Expenditure Outlook by Company 59
7.4. New Project Expenditure Outlook by Field Terrain 61
7.5. New Project Expenditure Outlook by Facility Type 63
8. Appendix 65
8.1. Abbreviations 65
8.2. Methodology 65
8.2.1. Coverage 65
8.2.2. Secondary Research 65
8.3. Contact Us 66
8.4. Disclaimer 66
List of Tables
Table 1: Production Outlook from Major Producing, Planned and Announced Projects (mboed), 2017-2025 9
Table 2: Capex Outlook from Major Producing, Planned and Announced Projects (US$ mil), 2017-2025 10
Table 3: Recoverable Reserves from Planned and Announced Projects by Country, Field Terrain and Project Count, 2019-2025 11
Table 4: Major Planned and Announced Project Starts by Key Countries in Northwest Europe, 2019-2025 12
Table 5: Major Planned and Announced Projects by Key Basins* in Northwest Europe, 2019-2025 13
Table 6: Major Planned and Announced Projects by Terrain in Northwest Europe, 2019-2025 14
Table 7: Major Planned and Announced Projects by Facility Type in Northwest Europe, 2019-2025 15
Table 8: Latest Project Updates, 2019-2025 16
Table 9: Crude and Condensate Production Outlook by Country (mbd), 2017-2025 21
Table 10: Crude and Condensate Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mbd), 2019-2025 23
Table 11: Crude and Condensate Production Outlook by Key Basins* (mbd), 2017-2025 24
Table 12: Crude and Condensate Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mbd), 2019-2025 26
Table 13: Crude and Condensate Production Outlook by Key Companies (mbd), 2017-2025 27
Table 14: Crude and Condensate Production Outlook from Planned and Announced Projects by Company in Northwest Europe (mbd), 2019-2025 29
Table 15: Key Upcoming Crude Projects in Northwest Europe, 2019-2025 30
Table 16: Economic Metrics of Major Planned and Announced Oil Projects in Northwest Europe, 2019-2025 38
Table 17: Economic Metrics of Major Planned and Announced Oil Projects by Key Countries in Northwest Europe, 2019-2025 39
Table 18: Natural Gas Production Outlook by Country (mmcfd), 2017-2025 40
Table 19: Natural Gas Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mmcfd), 2019-2025 42
Table 20: Natural Gas Production Outlook by Key Basins*(mmcfd), 2017-2025 43
Table 21: Natural Gas Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mmcfd), 2019-2025 45
Table 22: Natural Gas Production Outlook by Key Companies (mmcfd), 2017-2025 46
Table 23: Natural Gas Production Outlook from Planned and Announced Projects by Company in Northwest Europe (mmcfd), 2019-2025 48
Table 24: Key Upcoming Natural Gas Projects in Northwest Europe, 2019-2025 49
Table 25: Economic Metrics of Major Planned and Announced Gas Projects in Northwest Europe, 2019-2025 53
Table 26: Economic Metrics of Major Planned and Announced Gas Projects by Key Countries in Northwest Europe, 2019-2025 54
Table 27: Capex Outlook for Major Planned and Announced Projects by Key Countries in Northwest Europe (US$ mil), 2019-2025 55
Table 28: New Project Expenditure Metrics by Country, 2019-2025 56
Table 29: Capex Outlook for Major Planned and Announced Projects by Key Basins* in Northwest Europe (US$ mil), 2019-2025 57
Table 30: New Project Expenditure Metrics by Key Basins*, 2019-2025 58
Table 31: Capex Outlook for Major Planned and Announced Projects by Key Companies* in Northwest Europe (US$ mil), 2019-2025 59
Table 32: New Project Expenditure Metrics by Key Companies*, 2019-2025 60
Table 33: Capex Outlook for Major Planned and Announced Projects by Field Terrain in Northwest Europe (US$ mil), 2019-2025 61
Table 34: New Project Expenditure Metrics by Field Terrain, 2019-2025 62
Table 35: Capex Outlook for Major Planned and Announced Projects by Facility Type in Northwest Europe (US$ mil), 2019-2025 63
Table 36: New Project Expenditure Metrics by Facility Type, 2019-2025 64
List of Figures
Figure 1: Production Outlook from Major Producing, Planned and Announced Projects (mboed), 2017-2025 9
Figure 2: Capex Outlook from Major Producing, Planned and Announced Projects (US$ mil), 2017-2025 10
Figure 3: Recoverable Reserves from Planned and Announced Projects by Country, Field Terrain and Project Count, 2019-2025 11
Figure 4: Major Planned and Announced Project Starts by Key Countries in Northwest Europe, 2019-2025 12
Figure 5: Major Planned and Announced Projects by Key Basins* in Northwest Europe, 2019-2025 13
Figure 6: Major Planned and Announced Projects by Terrain in Northwest Europe, 2019-2025 14
Figure 7: Major Planned and Announced Projects by Facility Type in Northwest Europe, 2019-2025 15
Figure 8: Crude and Condensate Production Outlook by Country (mbd), 2017-2025 21
Figure 9: Crude and Condensate Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mbd), 2019-2025 22
Figure 10: Crude and Condensate Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mbd), 2019-2025 22
Figure 11: Crude and Condensate Production Outlook by Key Basins* (mbd), 2017-2025 24
Figure 12: Crude and Condensate Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mbd), 2019-2025 25
Figure 13: Crude and Condensate Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mbd), 2019-2025 25
Figure 14: Crude and Condensate Production Outlook by Key Companies (mbd), 2017-2025 27
Figure 15: Crude and Condensate Production Outlook from Planned and Announced Projects by Company in Northwest Europe (mbd), 2019-2025 28
Figure 16: Crude and Condensate Production Outlook from Planned and Announced Projects by Company in Northwest Europe (mbd), 2019-2025 28
Figure 17: Economic Metrics of Major Planned and Announced Oil Projects in Northwest Europe, 2019-2025 38
Figure 18: Economic Metrics of Major Planned and Announced Oil Projects by Key Countries in Northwest Europe, 2019-2025* 39
Figure 19: Natural Gas Production Outlook by Country (mmcfd), 2017-2025 40
Figure 20: Natural Gas Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mmcfd), 2019-2025 41
Figure 21: Natural Gas Production Outlook from Planned and Announced Projects by Country in Northwest Europe (mmcfd), 2019-2025 41
Figure 22: Natural Gas Production Outlook by Key Basins*(mmcfd), 2017-2025 43
Figure 23: Natural Gas Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mmcfd), 2019-2025 44
Figure 24: Natural Gas Production Outlook from Planned and Announced Projects by Key Basins* in Northwest Europe (mmcfd), 2019-2025 44
Figure 25: Natural Gas Production Outlook by Key Companies (mmcfd), 2017-2025 46
Figure 26: Natural Gas Production Outlook from Planned and Announced Projects by Company in Northwest Europe (mmcfd), 2019-2025 47
Figure 27: Natural Gas Production Outlook from Planned and Announced Projects by Company in Northwest Europe(mmcfd), 2019-2025 47
Figure 28: Economic Metrics of Major Planned and Announced Gas Projects in Northwest Europe, 2019-2025 53
Figure 29: Economic Metrics of Major Planned and Announced Gas Projects by Key Countries in Northwest Europe, 2019-2025* 54
Figure 30: Capex Outlook for Major Planned and Announced Projects by Key Countries in Northwest Europe (US$ mil), 2019-2025 55
Figure 31: New Project Expenditure Metrics by Country, 2019-2025 56
Figure 32: Capex Outlook for Major Planned and Announced Projects by Key Basins* in Northwest Europe (US$ mil), 2019-2025 57
Figure 33: New Project Expenditure Metrics by Key Basins*, 2019-2025 58
Figure 34: Capex Outlook for Major Planned and Announced Projects by Key Companies* in Northwest Europe (US$ mil), 2019-2025 59
Figure 35: New Project Expenditure Metrics by Key Companies*, 2019-2025 60
Figure 36: Capex Outlook for Major Planned and Announced Projects by Field Terrain in Northwest Europe (US$ mil), 2019-2025 61
Figure 37: New Project Expenditure Metrics by Field Terrain, 2019-2025 62
Figure 38: Capex Outlook for Major Planned and Announced Projects by Facility Type in Northwest Europe (US$ mil), 2019-2025 63
Figure 39: New Project Expenditure Metrics by Facility Type, 2019-2025 64
Methodology
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is also carried
out to understand the impact of external factors on the market. Finally, country-level data analysis is
performed to
understand the market dynamics in specific regions and countries.
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