September 03, 2019

July 2019 Projects Update: Deepwater Dominating the Offshore

Stratas Advisors

Global Upstream Summary

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Global upstream projects came alive in July with activities ranging from licensing rounds in Australia, Colombia, India and Ghana to oil discoveries in Norway, Ghana and Vietnam. In addition, updates on 17 key development projects and announcements on six A&D transactions involving operating assets were made. The value of announced transactions could reach US $5 billion. Notably, deepwater projects dominate global upstream offshore developments this month.

In July, development projects of note include the PowerNap project in the U.S. Gulf of Mexico (GOM) and the Miztón project in the Mexican GOM; the Gudrun Phase 2 project, the Trestakk project, and the Johan Sverdrup Phase 1 and Phase 2 projects in the Northern North Sea; the Marjoram and Rosmari project, the Laverda and Cimatti project, the Waitsia Stage 2 project in Asia Pacific; the Gbetiokun project, the Agogo project and the Greater Pecan project in Africa; the Hammerhead project in South America; the Triton project in Russia;  and the Haliba project in Middle East. See Table 3 for detailed project level updates.

Stratas is continuing to monitor the upstream scene. Key projects on our list includes developments inside and outside of prolific Stabroek block offshore Guyana; developments spawned from Occidental Petroleum’s acquisition of Anadarko Petroleum, and Exxon Mobil’s exploration efforts in the Gippsland Basin following the Sculpin-1 well gas discovery off Victoria in Australia.

GUPAJULY19

More details about upstream projects updates are included in Stratas Advisors’ Global Upstream Project Analytics (GUPA) service. The Global Upstream Project Analytics service delivers timely and relevant insights and forecasts on global upstream projects.  Analyses and data are delivered through our dedicated web portal in multiple formats including formal and informal analytical content, podcasts, webcasts, and more.  In addition, the service provides access to selected data, interactive charts, and mapping tools. Clients also have access to data tools, interactive custom charting with ability for data downloads, and mapping tools.

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