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Britain promotes upcoming oil and gas projects in Europe
Date: Click quantity: 9

The UK is expected to promote projects in the entire European oil and gas value chain. By 2025, the UK will account for about 25% of all projects. According to data from GlobalData, the world's leading data analysis company, among these projects, new projects account for 62%, and the remaining projects are mainly expansion projects in the upstream field.

GlobalData's report "European Oil and Gas Project Outlook in 2025-Development Stage, Capacity, Capital Expenditure and Contractor Details of All New and Expansion Projects" shows that 111 projects are expected to start operations in the UK during 2021-2025. Among these projects, 83 will be upstream projects and 23 will be midstream projects, of which 3 are refineries and 2 are petrochemical projects.

Soorya Tejomoortula, an oil and gas analyst at GlobalData, commented: “The shallow waters of the North Sea will continue to drive the growth of upstream production projects in the UK. Upcoming projects, including oil and gas development, will help the country continue to meet its oil and gas needs and reduce its dependence on imports. ."

Among the upcoming production projects in the UK, Rose Bank is a key project, with a total production capacity of 121,000 barrels of oil equivalent per day. The project is located in the deep waters of the western Shetland Islands and will further strengthen the security of oil and gas supply in the UK.