Lewes, DE -- (SBWIRE) -- 05/31/2016 -- Q1 2016 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in Global Offshore Industry provides oil and gas production outlook by key countries and companies in the global offshore industry up to 2025. The report also includes planned projects count and starts by key countries and companies in the industry. Details of key planned crude and natural gas projects in the global offshore industry and capex and opex outlook by key countries and companies in the industry.

Key Highlights
- A total of 239 offshore crude and natural gas projects in 46 countries are expected to commence operations globally by 2025. Brazil has the highest number of planned projects (39), followed by the UK at 29. Norway occupies the third place with 18 offshore projects.
- In the global offshore oil and gas industry, key planned projects are expected to contribute 6.7 million barrels of oil per day (mmbd) to global crude production and 36.6 billion cubic feet per day (bcfd) to global gas production in 2025.
- Brazil will account for most of the planned offshore oil and gas production in the world by 2025. Brazil's NOC, Petroleo Brasileiro S.A, will lead in planned offshore oil and gas production in the world. The company's key planned assets are expected to contribute 1.8 million barrels of oil equivalent per day (mmboed) of offshore production in 2025.
- Petroleo Brasileiro S.A. is also expected to lead globally in terms of operatorship of planned offshore projects. The company is expected to operate 34 projects by 2025, of which 33 will be crude projects. Petroleos Mexicanos and Chevron Corporation will jointly occupy second place with operatorship in nine planned assets each.
- A total capital expenditure of US$692.6 billion is expected to be spent on key offshore planned projects, of which US$502.6 billion is expected to be spent during 2016 to 2025.
- Brazil is expected to lead globally with an offshore spending of US$126.4 billion during the 2016 to 2025 period. Petroleo Brasileiro S.A. will have the highest capex spending among all the companies in the world. It is expected to spend a total of US$93.9 billion on key planned projects over the next 10 years.
- Few of the major undeveloped discoveries in the world include East Natuna in Sarawak-East Natuna Basin, Pobeda in the West Siberian Basin and Arash in the Persian Gulf Basin.

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