The North Sea still has potential for portfolio optimisation
North Sea buyers wanted
The UKCS in particular has a pipeline of assets for sale. But who will the purchasers be?
“We got off to a really fast start at the beginning of this year. It has somewhat stagnated in the North Sea, but we still see plenty of opportunities in the pipeline.” So said Neivan Boroujerdi, principal analyst, North Sea upstream oil and gas at consultancy Wood Mackenzie, speaking at the Energy Voice Future North Sea conference in early September. Boroujerdi sees different types of actors that could be sellers of North Sea assets, including Asian players. “A good example of that is Japanese trading houses really changing their approach to upstream in light of net CO₂ targets,” he says. While ExxonMobil, Chevron, TotalEnergies, BP and Shell have all sold North Sea assets in recent years,
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
