81 new crude and natural gas projects will start operations in Europe over the next eight years, according to GlobalData.
The market leader of insights across the energy industry expects the 81 projects will contribute close to 1,496 thousand barrels per day (mbd) to global oil production and approcimately 4.7 billion cubic feet per day (bcfd) to global gas production.
The firm's research suggests that the UK will lead with a total of 37 projects, followed closely by Norway with 28 and Italy with six assignments. Norway is predicted to drive natural gas production whereas Norway will also be responsible for oil and condensate production with the country’s upcoming projects, adding 1,072 mbd over the eight-year period.
GlobalData adds that Statoil will see the highest contribution to its oil and condensate production from upcoming fields with 409.2 mbd by 2025.
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