Report: Russia to lead FSU region with highest number of oil and gas projects in production by 2025

A total of 29 oil and natural gas projects are expected to commence production in Russia by 2025, according to a report by GlobalData.

Titled ‘H1 2017 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in Former Soviet Union – Russia Leads the Region Despite Recent Production Cuts’, the report provides details of various planned oil and natural gas projects in the FSU region.

The FSU region’s planned projects are expected to contribute 0.8 million barrels of oil a day (mmbd) and 11.9 billion cubic feet a day (bcfd) of gas to the global crude and gas production respectively by 2025. The majority of the oil and gas production in the region will be contributed by Russia.

In terms of operators, Gazprom will lead with six planned projects, followed by Surgutneftegas with five and Rosneft Oil Company with two projects. Rosneft Oil Company is expected to contribute 540.8 million barrels of oil equivalent a day (mboed) by 2025, followed by Gazprom with 250mboed and Surgutneftegas with 17mboed.

The total capital expenditure in the region between 2017 and 2025 is forecast to be $43.1bn. Russia will have the highest capex of $41bn, with $10.4bn being spent on the Sakhalin 3 project alone. In terms of operators, Gazprom will have the highest capex of $31.8bn over the forecast period.

The major undeveloped discoveries in the FSU region include Bolshoye Samotlorskoye in Russia’s West Siberian Basin, and East Natuna in Indonesia’s Sarawak-East Natuna Basin.