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Q3 2019 pre-FID upstream project tracker: deepwater leads the way
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Report summary
Deepwater projects are dominating new upstream investment - both in terms of sanctions in H1 2019, and what lies ahead in H2. Outside of big projects in Russia and the Caspian, most of the largest new developments that reached FID in the first half of the year are located in deepwater. Of the US$50 billion in projects sanctioned in H1 2019, over US$33 billion is from deepwater fields. Brazil, Guyana and Mozambique lead the way, and are set to continue doing so in the second half of the year, alongside possible FIDs in Ghana, Senegal and Malaysia.
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