Top Ten Upcoming Onshore Oil Projects. Source: Upstream Analytics.

Over $83.1bn in capital expenditure will be spent over the lifetime of the top ten onshore oil projects to produce 9.7 billion barrels of crude oil, according to research and consulting firm GlobalData.

These 10 projects, selected from 126 upcoming onshore projects globally, will contribute incremental capacity of 1,135,034 barrels of oil per day (bd) to global supply by 2025. Kuyumbinskoye in Russia is the largest with anticipated peak production at 215,485 bd in 2029 at an estimated cost of $12.8bn.

GlobalData reports the average development breakeven oil price for top upcoming onshore crude projects at $55 per barrel, with projects in Russia having highest breakeven price at $57 per barrel and Canada the lowest at $52 per barrel.

Conventional oil developments need $42 per barrel to break even. Oil sands have an average break-even of $52 per barrel, while heavy oil projects have the highest break-even at $92 per barrel.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

GlobalData estimates $83.1bn will be spent to bring the top ten onshore projects online, with $46.7bn forecast by 2025. Conventional oil Kuyumbinskoye development in Russia leads capital investment with $12.8bn over its development lifetime, followed by Canada’s Telephone Lake (Cenovus Energy Inc.) oil sands project with $10bn.

Differentiating for project type, GlobalData expects full-cycle capital expenditure per barrel of oil equivalent to average $7.5 for conventional oil projects, $9.2 for oil sands, and $9.8 for heavy oil developments.