Insight
Q1 2024 pre-FID upstream project tracker: slow start but activity to pick up
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
We expect around 30 projects will reach FID in 2024. This should be an increase on last year, as many 2023 projects were delayed or postponed. Up to US$125 billion of investment could be committed to develop 14 billion boe. NOCs in the Middle East will control the largest investments. ADNOC’s offshore expansion plans lead the way by reserves, with the Upper Zakum, Lower Zakum and Umm Shaif gas cap projects. In Europe, TPAO will also sanction the largest phase of its giant Sakarya gas project in the Black Sea. But the Majors will also be busy. TotalEnergies operates two of the top five largest projects by capex as it looks to sanction almost US$30 billion. ExxonMobil will sanction its sixth FPSO at the prolific Stabroek block in Guyana.
Table of contents
- 2023 in Numbers
- Projects to watch in 2024
- About the tracker
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
Other reports you may be interested in
Insight
Q1 2025 pre-FID project tracker: Slow start to 2025 ended by go-ahead for ADNOC and Shell mega projects
Our Q1 2025 outlook for global pre-FID upstream projects.
$6,750
Insight
Q4 2024 pre-FID project tracker: Shell wraps up year with Bonga North FID
Our Q4 2024 outlook for global pre-FID upstream projects.
$6,750
Insight
Regulatory approvals and commercial agreements advance: Q1 2017 North America LNG projects update
We highlight the progress and any delays to proposed North American LNG projects.
$1,050
