Related Articles
Forward article link
Share PDF with colleagues

North Sea work surges on high prices and investment terms

The main North Sea countries are seeing strong exploration and development activity, driven by high oil and gas prices and improved investment terms

The North Sea is a busy oil and gas province. For two years, oil and gas prices have been high and relatively stable, while explorers have had their interest sharpened by licensing offers in the UK and Norway. In the UK, investment confidence has been lifted by last year’s tax incentives; in Norway, recent large discoveries are the attraction.  But – as seen in the past – high activity levels can soon strain the North Sea area’s capacities in construction and oil services. In the UK, the producers’ and suppliers’ organisation, Oil & Gas UK (OGUK), says there are concerns about “shortages of skilled personnel, wage inflation and a general escalation of operation costs”. In Norway, the No

Also in this section
Some pain, some gain for Africa
2 December 2016
Crude prices hurt exporters and LNG plans idled. Violence flared in the Niger Delta. East African oil and Senegal were bright spots
The slippery slope
2 December 2016
Europe's upstream struggled in 2016, leaving the continent more dependent on imports
Stress tested
1 December 2016
North America's oil and gas sector suffered in 2016, but survived its trial of strength