Rystad: Offshore project sanctioning in 2019 on track to surpass 2014 levels

This is yet another signal that the offshore industry has turned a corner and can reach a potential project commitment total of $123 billion in 2019, surpassing commitments in 2014 of $78 billion, according to Rystad Energy.

The Marjan Expansion alone is the largest field to be sanctioned globally since 2014. Later this year, the Hail and Ghasha Sour Gas projects, Lula’s Oeste FPSO in Brazil, and the feed gas systems to develop the Atum and Golfinho assets on the Area 1 LNG project are also expected to be sanctioned.

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