NEW SOURCE PROJECTS TO PEAK IN 2017

摘要

Newbuild production capacity from projects coming onstream in 2017 is reaching a peak. More than 60 projects with total newbuild capacity of 6.3 million barrels of oil equivalent per day (MMboe/d) are expected to reach their first production this year. The newbuild capacity was 4.9 MMboe/d on 54 projects in 2016. Looking forward, 2018 will only see about 4.1 MMboe/d of new capacity on 33 projects, and 3.6 MMboe/d on 43 projects in 2019. The trend indicates that the glut of projects sanctioned in the high-price era will be subdued after this year.