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Q3 2018 pre-FID upstream project tracker: Big is back
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Report summary
Project sanctions in Q3 2018 continued to build off of the momentum generated in the first half of the year. To date, 37 major projects have received FID, which surpasses the total number of Final Investment Decisions achieved in 2017. Compared with last year, producer's confidence in upstream sector investment is returning, and large mega-projects are becoming more prominent. Roughly half of the total reserves sanctioned in Q3 are attributable to three major projects: Marjan Crude Increment (Saudi Arabia), LNG Canada, and Kharasaveiskoye (Russia). Significant projects are also being developed in Iraq, Saudi Arabia and the United Arab Emirates where the focus is on onshore and shallow water oil fields, while major projects in Russia, Norway, and Canada are almost exclusively seeking to develop onshore gas reserves.
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