Upcoming Oil and Gas Projects

Project: Shell Prelude Project 
Location: Australia

This project is the first deployment of Shell’s FLNG technology, and involves a 488-metre long floating facility extracting and liquefying gas at sea before it is exported to customers across the globe. 

Prelude is part of a new wave of doing business in the oil and gas industry because it compresses a traditional land-based LNG plant into a tighter, mobile package. Its facility will be moored 475km north-east of Broome and is expected to stay in this location for 20 to 25 years.

 

The Prelude project will employ 260 local workers on board the facility during operations and create over 1,500 jobs during the hook-up and commissioning phase of the project. 

The hook-up and commissioning phase of the project is expected to take nine to 12 months.

Project: Bay du Nord Oil Project
Location: Canada 

Newfoundland and Labrador and Equinor Canada have confirmed it will develop Canada’s first remote, deepwater project located in the Flemish Pass Basin. 

The Bay du Nord project is expected to generate billions of dollars over its lifespan and create 500 jobs during construction and throughout its operational life. 

"With today's announcement, we take our first step into the new frontier, we mark a new era of deep-water exploration as well as the opening of a new basin — the Flemish Pass. The future of our offshore begins today," said Dwight Ball, Premier of Newfoundland and Labrador. 

Discovered in 2013, the Bay du Nord project is expected to be sanctioned in 2020 — with first oil in 2025 — and is projected to hold oil reserves of nearly 300 million barrels.

 

Project: Yamal gas field 
Location: Russia

Gazprom has approved the development of another giant Yamal gas field.

Full-scale development work is scheduled to commence next year, according to Gazprom. The first phase of the project will target reservoirs with Aptian and Cenomanian layers.

Reports suggest that Yamal is expected to emerge as Russia’s main centre for gas production, displacing the Nadym-Pur-Taz region located further south, where output is declining. 

This new Yamal Megaproject will allow Gazprom to launch up to 32 fields on the peninsula with combined reserves of 26.5 tcm of gas, 1.6 billion tonnes of gas condensate and 300 million tonnes (2.2 billion barrels) of crude oil.

Project: Borouge 4 Complex 
Location: UAE 

Abu Dhabi has announced the multi-billion-dollar expansion of the Borouge petrochemicals complex at Ruwais with the aim to increase the range and volume of products it can produce.

The Abu Dhabi National Oil Company (ADNOC) and Borealis have agreed on a framework by which both companies will advance two key projects that will expand both ADNOC and Borealis downstream petrochemicals business and support the delivery of ADNOC's integrated smart growth and partnership strategy.