GlobalData, a research and consulting firm, has recently reported that Russia is responsible for 25 key crude and natural gas projects, which are expected to commence operations by 2025, dominating the Former Soviet Unionâs (FSU) oil and gas production. According to the companyâs latest report, the two other key planned projects in the FSU region are in Kazakhstan, led by the colossal Kashagan crude oil project.
Anna Belova, Ph.D., GlobalDataâs Senior Upstream Analyst covering the Former Soviet Union, explains: âRussia will account for most of the planned oil and gas production in the FSU, with Gazprom contributing the highest oil and gas production in the region by 2025. The companyâs key planned assets are expected to contribute 1.89 million barrels of oil equivalent per day (mmboed) of production, followed by key projects at Lukoil and Rosneft at 0.92 mmboed and 0.88 mmboed respectively.â?
Rosneft will lead the FSU in terms of operatorship of planned projects, and will operate ten planned assets, the highest number in the region. Despite the dominance of Russia in terms of the number of planned projects, Kazakhstan is expected to lead the FSU for capital expenditure (capex) on key developments through to 2025.
