More upstream projects on the horizon for Australia

More upstream projects on the horizon for Australia

Australia is expected to see 118 oil and gas projects start operations across value chain between 2021-2025, making up 6% of the total project starts in the Asia-Pacific (APAC) region, according to GlobalData.

Of these, new-build projects lead the upcoming projects count constituting around 74% of the total starts across the value chain, according to the data and analytics company.

GlobalData’s report, ‘Asia Pacific Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, reveals that of the 118 projects during the outlook period, upstream projects would be 53, midstream projects would be the highest with 56 projects and petrochemicals at nine.