North Sea output heads south
Slowing offshore activity in the UK and Norway is prompting support
LOW commodity prices have put a dent in upstream investment in Norway’s and the UK’s offshore, threatening medium-to-long-term production in both countries. The slump in drilling activity on the UK Continental Shelf (UKCS) in 2015 gives significant cause for concern. Last year, exploration and appraisal drilling fell to its lowest level for 45 years, with just 13 exploration and 13 appraisal wells drilled, according to the Oil and Gas Authority (OGA), the regulator. In 2008, firms drilled more than four times as many wells. The impression of a basin in rapid decline dovetails with the production statistics: since 1999, UKCS oil production has fallen from 2.6m barrels a day to about 0.9m b
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
