Q4 2023 pre-FID upstream project tracker: 2023 FID count falls but committed capex could near a decade high

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Four final investment decisions were confirmed since our Q3 2023 update, taking the total for the year to 21. All projects sanctioned year-to-date account for over US$110 billion of committed investment and almost 16 billion boe of reserves. This quarter, ADNOC sanctioned its Hail and Ghasha sour gas project offshore the UAE. This is the largest FID globally this year by total investment. Elsewhere, Equinor approved the controversial Rosebank project in the UK, and developments got the go-ahead in US Gulf of Mexico and Vietnam. Final investment decisions could still be taken on up to eight projects before the end of 2023. It’s a stretch target. More likely, only some of these will make it, meaning another year where FID count drops.

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

    Q4 2023 Pre FID Upstream Project Tracker.

    XLSX 117.37 KB

  • Document

    Q4 2023 Pre FID Upstream Project Tracker.pdf

    PDF 547.51 KB