As experts in engineering and specialist workforce solutions and labour force project management to major industries worldwide, Fircroft maintains an ongoing analysis of forthcoming major projects. As such, we’ve taken a look at the 18 major Oil & Gas projects that will have a significant impact upon the industry in 2017 and 2018. Our analysis of other industries will follow soon. In making our selection, we’ve picked those projects that are either currently under development or will begin production in 2018. In addition, we’ve picked projects that represent both sizeable expenditure by producers and big contributions to the global daily supply of Oil & Gas. .
Situated around 250 kilometres off the coast of AFRICA sits the Libra field which is estimated to hold around 8-12 billion barrels of recoverable oil. With such large potential, the field has attracted a huge amount of interest in recent years with Petrobras, Shell, Total, CNPC and CNOOC now all holding stakes in Libra. And these operators are betting big that the Libra field is going to be successful. It is estimated that the first production contract for the field amounts to an almost unbelievable $71 billion! With first oil achieved in November 2017, 2018 should be the year we really see the Libra field begin to fulfil its potential.
As we’ve written extensively here on EngineeringPro, there’s still much life for the North Sea Oil & Gas industry- especially as new ways of exploiting reserves continue to be developed. The Tyra gas field is a perfect example. Currently facing the end of its operational life, Maersk Oil is set to redevelop the field at a cost of $3.36 billion which involves completely overhauling the field’s infrastructure. Work to be carried out includes the replacement of the existing gas processing platforms with a modern facility as well as rig and engineering upgrades on five surrounding satellite fields. As a result of this redevelopment Tyra will continue to produce around 60,000 barrels of oil equivalent from 2022 onwards. Which is good news considering that over 1.5 million Danish homes depend on the field for energy.
Bahrain is fully embracing the era of LNG with construction of the Middle East’s first LNG receiving and regasification terminal. Construction is expected to be completed in 2019, at which point the facility will have a capacity of over 22 million cubic metres of gas a day. The facility will consist of a floating storage unit (FSU), an offshore LNG-receiving jetty, a regasification platform, subsea gas pipelines, an onshore gas receiving centre, and an onshore nitrogen production facility. Such is the strategic importance of this facility to the Middle East that it has attracted a wealth of backers including Samsung C&T, Gulf Investment Corporation (GIC), and Teekay LNG Partners.