Back In The Global Spotlight, Oil And Gas Sector To See Over $200 Billion In Investments, Considered 'The Largest Growth In A Decade Over The Next Two Years'

Back In The Global Spotlight, Oil And Gas Sector To See Over $200 Billion In Investments, Considered ‘The Largest Growth In A Decade Over The Next Two Years’

Written by Roberta Souza

Published on 14/03/2023 at 18:21

Foto: Reprodução adaptada Radix.com

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US$ 214 Billion in Pipeline Project Investments Expected by 2025

According to research by Rystad Energy, greenfield capital expenditures (capex) exceeded the US$ 100 billion mark in 2022, which will be broken again in 2023. This will be the first breakout in two consecutive years since 2012 and 2013. The research shows that the offshore oil and gas sector will have “the largest growth in a decade over the next two years,” with a total of US$ 214 billion in project investments.

Rystad Energy also explains that offshore oil and gas activity is expected to account for 68% of all conventional hydrocarbons sanctioned in 2023 and 2024. It had been above 40% between 2015-2018, as global demand for fossil fuels remains strong and countries seek easily produced carbon sources.

Growth Forecast for the Offshore Services Market

New investments represent significant growth for the offshore oil and gas services market. With spending on supplies growing 16% in 2023 and 2024, there will be an annual increase of US$ 21 billion over the next decade. Thus, activities related to offshore platforms, vessels, storage, and subsea and floating production (FPSO) will see a massive surge.

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Outlook for Oil and Gas Investments in Brazil

South America, the United Kingdom, and Brazil are not far behind the Middle East, as investments in the North Sea of the UK and Norway are also expected to rise in the next two years. According to Rystad, UK offshore spending is set to increase by 30% this year to US$ 7 billion. Meanwhile, Norwegian investments will reach US$ 21.4 billion, representing a 22% increase from 2022.

On the other hand, Brazilian investments in oil and gas are expected to reach US$ 23 billion this year, and investments from Guyana total US$ 7 billion. In North America, US offshore spending will reach US$ 17.5 billion and US$ 7.3 billion in Mexico.

Back In The Global Spotlight, Oil And Gas Sector To See Over $200 Billion In Investments, Considered ‘The Largest Growth In A Decade Over The Next Two Years’

US$ 214 Billion in Pipeline Project Investments Expected by 2025

Growth Forecast for the Offshore Services Market

Outlook for Oil and Gas Investments in Brazil

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Back In The Global Spotlight, Oil And Gas Sector To See Over $200 Billion In Investments, Considered ‘The Largest Growth In A Decade Over The Next Two Years’

US$ 214 Billion in Pipeline Project Investments Expected by 2025

Growth Forecast for the Offshore Services Market

Outlook for Oil and Gas Investments in Brazil

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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With lasers, sonar, and thousands of images, researchers scanned the Endurance, a ship lost in Antarctica for over a century, revealing an almost intact scene on the seabed.

Cars in the air have become a reality: the world’s first vertiport for electric air taxis will have passengers and integration with eVTOLs.

The USA surprises the world with its new weapon that does not require sailors, patrols the sea alone against Iran, can turn into a kamikaze boat, and has already accumulated over 450 hours and 2,200 miles in real operation.

Engineers are storing 40,000 cubic meters of snow under wood chips to turn winter into a cooling system that seems unlikely, using meltwater to cool hospitals, servers, and medical equipment in the summer.