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True North Sea

Which Companies Are Moving To Take Advantage of this Resilient Basin

March 4, 2022

Upstream oil & gas global

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Key Points

  • Media headlines paint a picture that the North Sea oil and gas industry is in a death spiral. Although drilling in the region has declined since 2010, in-field opportunities have helped keep North Sea production flat around 3.5 MMboe/d, and we believe the region should continue to see significant investment for many years to come.

  • Local gas production boasts a relatively low emissions intensity, attractive for a northern European market desperate for secure sources of natural gas.

  • Supermajors have made notable exits in the last few years, but independents have moved aggressively into the North Sea, signaling a strong commitment to the basin.
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