Q3 2023 pre-FID upstream project tracker: Trion becomes Mexico’s first deepwater field to take FID

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Eighteen major projects have been sanctioned to date in 2023. In this quarter, Woodside announced FID on its Trion project, becoming Mexico’s first deepwater field to reach the development phase. In Europe, OMV Petrom finally took FID at its offshore Neptun Deep gas project. Other projects taking FID include TotalEnergies' Ratawi Gas Hub in Iraq and ConocoPhillips' Nuna field in Alaska. Several projects have been pushed back since our Q2 2023 update. ADNOC's huge Upper and Lower Zakum projects are now expected to FID in 2024. Final investment decisions could still be taken on 13 projects before the end of 2023. The remaining projects account for almost US$60 billion of potential investment and 6 billion boe of reserves.

Table of contents

  • Final investment decisions year-to-date
  • About the tracker

Tables and charts

This report includes 1 images and tables including:

  • Final investment decisions in 2023

What's included

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  • Document

    Q3 2023 Pre FID Upstream Project Tracker.pdf

    PDF 586.07 KB

  • Document

    Q3 2023 Pre Fid Upstream Project Tracker Rev1.xlsx

    XLSX 119.76 KB