Related Articles
BP near-field exploration in the Southern North Sea
Forward article link
Share PDF with colleagues

Does the UK North Sea have a ‘majors’ problem?

Three of the basin’s largest players insist it is core. But it is hard to conclude that BP’s and Shell’s positions are fully optimised

The UK continental shelf (UKCS) is one of Shell’s nine core global upstream areas and one of BP’s eight. TotalEnergies has also told Petroleum Economist that it considers the UKCS to be core. But, on the basis of recent second-quarter results, the interest of the firms and the equity analysts that cover them in discussing the province and the majors’ future strategy in them is relatively small. “At the end of the day, all we are trying to do is create the highest value oil and gas portfolio that we can,” BP CEO Bernard Looney baldly told the firm’s Q2 results analyst call. In the light of this, should his firm and Shell consider something more radical in their UKCS approach? It makes some

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Beijing strives to balance security and decarbonisation
15 October 2021
The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years
Occidental exits Ghana
15 October 2021
The US super-indie is divesting its assets in the country
Gran Tierra cranks up the gears
14 October 2021
Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video