Shell is leading the way on new-build spending plans to 2025, according to a new report from GlobalData.
The analysts forecast that the energy giant is expected to spend £42.4billion on a total of 60 upstream projects over the period..
Total global capital expenditure on new-build developments in the next six years is £657.8bn.
Behind Shell in the spending ranks Gazprom and ExxonMobil, spending £38.7bn and £33.4bn respectively.
Canada, the US and Russia can expect to see the highest spending, according to the report, along with Mozambique.
GlobalData analyst Soorya Tejomoortula said: “Shell has spread its new-build capex for the development of 60 upcoming upstream projects.
“This will further aid the company to expand its scale, and increase production and cash flows.”