• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 7 minutes Middle East on brink: Oil tankers attacked off Oman
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 2 hours The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 7 hours Coal Boom in Asia is Real and a Long Trend
  • 5 hours China's President Xi To Visit North Korea This Week
  • 17 mins The Plastics Problem
  • 5 hours Hydrogen FTW... Some Day
  • 8 hours OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 7 hours Forbes: Giant Floating Solar Farms Could Extract CO2 From Seawater, Producing Methanol Fuel.
  • 11 hours Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 11 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 46 mins The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 19 hours Greenpeace claims one oil rig is "pushing the world closer to a climate catastrophe"
  • 13 hours As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 9 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 4 hours Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
Alt Text

Is There Really An Oil Shortage?

Some analysts have argued we…

Alt Text

U.S. Gulf Coast Oil Imports Hit 33-Year Low

The U.S. Gulf Coast saw…

Alt Text

This Overlooked Canadian Oil Niche Is Making Traders Billions

As major pipeline bottlenecks continue…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Trending Discussions

New Oilfield Capex To Surpass $800 Billion By 2025

Capital expenditure on upcoming oil and gas fields worldwide will amount to US$811 billion on 615 projects planned between 2018 and 2025, data and analytics company GlobalData says.

In upcoming oil fields, over the next eight years, capex in conventional oil projects will be US$352 billion, spending on heavy oil will hit US$44 billion, investment in oil sands is expected at US$43.4 billion, and capex on unconventional oil projects would be US$30 billion.

In gas field investment, conventional projects will take US$363.2 billion, while spending on coal bed methane (CBM) and unconventional gas projects are expected at US$3.7 billion and US$1.6 billion, respectively, according to GlobalData.

The top three countries in terms of capex in upcoming oil and gas fields through 2025 will be Brazil, the United States, and Russia.

Brazil will lead the global spending with US$76.7 billion or over 9.5 percent of the total. The country has 49 announced and planned fields. The top fields in terms of capex are three ultra-deepwater conventional oil fields--Lula Central with US$13.3 billion; Lula Oeste with US$6.5 billion; and Buzios V (Franco) with US$5.6 billion.

The U.S. ranks second, with investment expected at US$75 billion or a 9.3-percent share of total global capex through 2025. Related: U.S. Petroleum Imports Could Fall To Zero In 2020

There are 37 planned and announced fields in the U.S., with three conventional oil developments the top three fields in terms of capex. These are ultra-deepwater Mad Dog Phase 2 with US$13.4 billion, shallow-water Smith Bay with US$11.1 billion, and onshore Horseshoe with US$6.5 billion.

Third in global capex comes Russia with US$72.6 billion or some 9 percent of the worldwide spending. Russia has 49 planned and announced fields, and unlike the two leaders, its top three fields for investment are gas projects—the Sakhalin 3 (Kirinskoye South (Yuzhno-Kirinskoye)) shallow water conventional gas field, Kovyktinskoye conventional gas onshore project, and Chayandinskoye conventional gas onshore project.

The top ten countries in terms of oil and gas spending also include—in descending order— Mozambique, Nigeria, Australia, Canada, Norway, Indonesia, and the UK. Projects in those countries together are expected to account for US$298 billion, or about 37 percent, of all spending until 2025.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment





Oilprice - The No. 1 Source for Oil & Energy News