16.5 C
Johannesburg
February 19, 2025
Mining Africa News
Featured Featured Mining

Rystad Oil And Gas Investment To Rise 20% In 2022 – OilPrice.com

Click Here for 150+ Global Oil Prices Link
Start Trading CFDs Over 2,200 Different Instruments Link
Click Here for 150+ Global Oil Prices Link
Click Here for 150+ Global Oil Prices Link
Start Trading CFDs Over 2,200 Different Instruments Link
Click Here for 150+ Global Oil Prices Link
Click Here for 150+ Global Oil Prices Link
Start Trading CFDs Over 2,200 Different Instruments Link
Click Here for 150+ Global Oil Prices Link
Click Here for 150+ Global Oil Prices Link
Start Trading CFDs Over 2,200 Different Instruments Link
Click Here for 150+ Global Oil Prices Link
Gazprom Cuts Off Gas Supply To The Netherlands
Find us on:
Buyers in both Europe and…
U.S. shale producers have received…
Oil prices have been rising…
Charles Kennedy
Charles is a writer for Oilprice.com
More Info
Global oil and gas investment is set to rise by 20% this year, according to Rystad Energy, with growth driven by soaring oil prices and big money flowing into projects in Brazil, Guyana, West Africa and Australia, the Houston Chronicle reports. 
Earlier this year, Rystad had forecast 8% growth for 2022; however, with Brent consistently topping $110 and WTI flirting with the same levels, we are now witnessing the highest growth rate forecasts since 2008. 
In the United States, investment in shale is set to increase by 35%, with the Permian basin leading the way, Rystad said, while investment in deepwater offshore drilling is set to rise by 30%.

Globally, the biggest uptick in investment is coming from places like Guyana, where ExxonMobil has witnessed a string of major discoveries over the past seven years. This year alone, Exxon, with partners Hess and CNOOC, has made five oil discoveries in the Stabroek Block offshore Guyana, now updating resources to nearly 11 billion barrels
In Brazil, last week, Norwegian oil giant Equinor and Exxon made concrete moves to expand an $8-billion offshore project, Reuters reported, in the Bacalhau oilfield, which contains more than 1 billion barrels of oil. The next phase of the project will include a gas pipeline that is more than 100 miles long.  
Earlier this month, Rystad said production in the Permian Delaware Basin would hit a record 5.7 million barrels of oil equivalent (boepd) this year, thanks to high oil prices and solid economics, with total production on track to increase by some 990,000 boepd. 
Rystad also said that investments in the basin would increase 40% in 2022, over 2021, despite the fact that supermajors cut their investments in the Permian Delaware Basin last in 2020 by over 30%. 
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com:
Back to homepage
Previous Post
Is It Time To Buy Oil And Gas Pipeline Stocks?
Next Post
How Will China’s Covid Containment Policy Affect Emerging Markets?
Charles is a writer for Oilprice.com
How China Could Spark A Major Reversal For Oil Prices
Middle East Producers Move To Cut Prices As Extreme Backwardation Eases
Oil Prices Are Set To Surge Even Higher This Summer
U.S. Oil Rigs Dip For First Time In 9 Weeks
Oil Prices Rally Despite Strong Dollar

© OilPrice.com<!– | Google+–>
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com

source

Related posts

Brikor posts net loss as bricks revenue rises but coal revenue falls – Creamer Media's Engineering News

Mike

Public lands to reopen for oil and gas drilling in a first under Biden – The Guardian

Mike

Wressle oil production gets formal approval – Drill or Drop

Mike

Leave a Comment