Gazprom and China Petrochemical Corp (Sinopec) are likely to be the top spenders among global oil and gas companies with new build capital expenditure (capex) on planned and announced projects across the oil and gas value chain during 2018–2025.
According to a report by data and analytics company GlobalData, Gazprom and Sinopec’s spend across the oil and gas value chain’ are likely to lead with an estimated capex of US$170.2bn expected on 93 oil and gas projects globally.
Sinopec and Royal Dutch Shell Plc (Shell) follow with capex of US$88.9bn (69 projects) and US$84.5bn (107 projects), respectively.
In the upstream sector, Shell leads among companies with an estimated capex of US$60.6bn to be spent on 58 planned and announced production fields globally. Gazprom follows with US$43.6bn to be spent on 28 upstream projects and Exxon Mobil will be in third position with US$42.2bn to be spent on 34 projects.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “Gazprom’s planned and announced projects portfolio is mainly focused on gas pipelines, upstream gas projects, and gas processing plants. This will help the company to ensure an uninterrupted supply of gas to Europe and foray in to new markets in Asia.”