Globally more than 380 key planned and announced offshore crude and natural gas projects are expected to start operations during 2017 to 2025. They are expected to contribute around 8,900 mbd to global crude production and 56 bcfd to global gas production in 2025. More than US$700 billion is expected to be spent between 2017 and 2025 to bring the planned and announced projects online. Among countries, the highest capex is in Brazil, followed by the US and Australia. Among companies, Petroleo Brasileiro S.A. has the highest capex, followed by Royal Dutch Shell plc, and BP Plc.