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Oil and Gas Final Investment Decisions (FIDs) in 2022

Globally Final Investment Decisions (FIDs) planned across the oil and gas value chain in 2022 continues to reflect the growth in the importance of natural gas. Countries and companies continue to take measures to reduce carbon emissions and plan to become carbon neutral over the coming decades. The growth of LNG is facilitating this shift, and the increased significance of gas is reflected in investment plans for projects from the wellhead through processing, trade, and distribution. Globally in the upstream sector, 100 production projects are expected to receive FIDs in 2022.

What are the major upstream projects targeting FIDs in 2022?

In the upstream sector, Africa has the highest volumes of remaining reserves from greenfield projects targeting FIDs in 2022 due to the development of major projects such as Tilenga in Uganda and Owowo West in Nigeria. Tilenga project was delayed due to the pandemic but has finally been sanctioned. The Owowo West was delayed as well but can finally be greenlighted due to the signing of the Petroleum Industry Act (PIA). The much-awaited signing of the act is expected to boost Nigeria’s oil and gas sector and provide a more conducive environment for investments in the country.

TotalEnergies and CNOOC are developing oil and gas resources in the Lake Albert region and a cross-country pipeline (EACOP) to transport produced crude via Tanzania. The development of Lake Albert resources helps Uganda to realize its ambition as an exporter of crude oil. The Yamburgskoye (Oil Rims) project in Russia, is another massive greenfield project expected to receive FID in 2022. The United Arab Emirates (UAE) is targeting FID for the world’s largest offshore sour gas development, Hail & Ghasha project. The project is of vital importance to the UAE to meet the growing gas demand in the country. Africa has the highest count and remaining reserves of greenfield upstream production projects planned for FIDs in 2022.

Some of the major upstream projects targeting FIDs in 2022 are Hail & Ghasha, Wisting, Trion, Western Libya Gas Project (Structure A & E) Development, Ca Voi Xanh, Tilenga, Pikka Unit (Nanushuk), Dorado, Bonga North, and Kingfisher.

Oil and gas FIDs, by upstream projects

Oil and gas FIDs, by upstream projects

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What are the major midstream projects targeting FIDs in 2022?

In the midstream sector, LNG and natural gas pipelines continue to be the major target segments for sanctioning of the FIDs. On the LNG demand side, Gastrade SA has taken FID on the $274 million Alexandroupolis Floating regasification project in Greece. The project would start operations in 2023 and meet the gas demand of Greece and other south-eastern European countries such as Bulgaria, ensuring energy security and supply diversification. On the trunk/transmission pipelines segment, Africa would be the only region globally to witness sanctioning of FIDs for two crude oil pipelines projects – East African Crude Oil (EACOP) and Lokichar–Lamu. Of these, EACOP has already received FID with Total and CNOOC signing an agreement on the project. The FID of the project was initially planned in 2021 and was delayed as it continues to receive opposition from several quarters. This is due to its potential impact on the environment and sensitive ecosystems, including on wildlife. Among natural gas pipelines, the EastMed project is the most important project expected to receive FID. The 1,900 km subsea pipeline would transport gas from Leviathan field in Eastern Mediterranean (shared by Cyprus and Israel) to Greece.

Some of the major midstream projects targeting FIDs in 2022 are Freeport II (Train 4), Brownsville Phase II, Delfin Floating, Port Arthur, Plaquemines Phase 1, Driftwood Phase I, Sonora Phase I, Corpus Christi Stage 3, Cameron II Phase II, and Tortue 2.

Oil and gas FIDs, by midstream projects

Oil and gas FIDs, by midstream projects

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What are the major refining and petchem projects targeting FIDs in 2022?

In the refinery segment, major new build refinery projects expected to receive FID in 2022 are Tuban II in Indonesia and Lobito in Angola. The $6.4 billion Tuban II is a cracking-type integrated refinery expected to start operations in 2027. The 300 mbd capacity refinery aims to provide Euro V standard fuels for Nusa Tenggara and Eastern Java regions.

On the petrochemicals side, major projects expected to receive FIDs are in China, India, and the US. In China, Zhejiang Petrochemical, one of the largest refiners and petrochemical producers in China, is targeting FIDs for 10 petrochemical plants in Zhejiang with a total capacity of 5.55 mtpa to produce propylene and other petrochemicals such as adipic acid and caprolactam. It is also planning to reduce carbon emissions through new technologies such as the direct conversion of crude oil into olefins against the traditional method of using feedstock produced in refineries.

Some of the major refining and petrochemical projects targeting FIDs in 2022 are Lobito, Tuban II, Kibaale Phase I, Kibaale Phase II, Darwin, Sinochem Quanzhou Petrochemical Quanzhou Ethylene Plant 2, Shell Basra Polyethylene Plant, Novatek Yamal Ammonia Plant, Chevron Phillips Chemical Qatar Petroleum Jv Orange Polyethylene Plant 1, and S-Oil Corporation Ulsan Ethylene Plant 2.

Oil and gas FIDs, by refining and petchem projects

Oil and gas FIDs, by refining and petchem projects

For more refining and petchem project insights, download a free report sample

Market report scope

Upstream projects targeting FIDs Hail & Ghasha, Wisting, Trion, Western Libya Gas Project (Structure A & E) Development, Ca Voi Xanh, Tilenga, Pikka Unit (Nanushuk), Dorado, Bonga North, and Kingfisher
Midstream projects targeting FIDs Freeport II (Train 4), Brownsville Phase II, Delfin Floating, Port Arthur, Plaquemines Phase 1, Driftwood Phase I, Sonora Phase I, Corpus Christi Stage 3, Cameron II Phase II, and Tortue 2
Refining and petchem projects targeting FIDs Lobito, Tuban II, Kibaale Phase I, Kibaale Phase II, Darwin, Sinochem Quanzhou Petrochemical Quanzhou Ethylene Plant 2, Shell Basra Polyethylene Plant, Novatek Yamal Ammonia Plant, Chevron Phillips Chemical Qatar Petroleum Jv Orange Polyethylene Plant 1, and S-Oil Corporation Ulsan Ethylene Plant 2

This report provides:

  • Analysis of remaining reserves of greenfield upstream production projects planned for FIDs by region in 2022.
  • Key details of upstream production projects targeted to receive FIDs in 2022.
  • Brief analysis of major projects expected to receive FIDs across key segments of the midstream sector.
  • Key details of midstream projects targeted to receive FIDs in 2022.
  • Brief analysis of major projects expected to receive FID in refinery and petrochemical segments.
  • Key details of refinery and petrochemical projects targeted to receive FIDs in 2022.

Reasons to Buy

  • Keep abreast of major projects targeted for FIDs in 2022 across the oil and gas value chain.
  • Develop business strategies with the help of specific insights about projects expected to receive FIDs in 2022.
  • Obtain the latest information on projects expected to receive FIDs in 2022.
  • Facilitate decision making on the basis of strong projects data.
  • Assess your competitor’s projects targeted to receive FIDs in 2022.

Table of Contents

Table of Contents

| About GlobalData 2

1. Global Oil and Gas FIDs in 2022 5

2. Upstream Projects Targeting FIDs in 2022 6

2.1 List of Upstream Production Projects Targeting FIDs in 2022 7

3. Midstream Projects Targeting FIDs in 2022 14

3.1 List of Oil and Gas Midstream Projects Targeting FIDs in 2022 15

4. Refining and Petchem Projects Targeting FIDs in 2022 18

4.1 List of Refining and Petrochemical Plants Targeting FIDs in 2022 19

5. Appendix 45

5.1 Abbreviations 45

5.2 Methodology 45

| Contact Us 46

List of Tables

Table 1: Global oil and gas upstream production projects targeting FIDs in 2022 7

Table 2: Global oil and gas midstream projects targeting FIDs in 2022 15

Table 3: Global crude oil refining and petrochemical projects targeting FIDs in 2022 19

List of Figures

Figure 1: Count and remaining reserves of greenfield upstream production projects planned for FIDs in 2022 by region 6

Figure 2: Count and capex of midstream projects planned for FIDs in 2022 by segment 14

Figure 3: Count and capex of refineries and petrochemical plants planned for FIDs in 2022 18

Frequently Asked Questions

Some of the major upstream projects targeting FIDs in 2022 are Hail & Ghasha, Wisting, Trion, Western Libya Gas Project (Structure A & E) Development, Ca Voi Xanh, Tilenga, Pikka Unit (Nanushuk), Dorado, Bonga North, and Kingfisher.

Some of the major midstream projects targeting FIDs are Freeport II (Train 4), Brownsville Phase II, Delfin Floating, Port Arthur, Plaquemines Phase 1, Driftwood Phase I, Sonora Phase I, Corpus Christi Stage 3, Cameron II Phase II, and Tortue 2.

Some of the major refining and petrochemical projects targeting FIDs in 2022 are Lobito, Tuban II, Kibaale Phase I, Kibaale Phase II, Darwin, Sinochem Quanzhou Petrochemical Quanzhou Ethylene Plant 2, Shell Basra Polyethylene Plant, Novatek Yamal Ammonia Plant, Chevron Phillips Chemical Qatar Petroleum Jv Orange Polyethylene Plant 1, and S-Oil Corporation Ulsan Ethylene Plant 2.

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