Deep-water hopes still high in northwest Europe
Efficiency savings and the use of existing infrastructure mean deep-water prospects look more promising than they have done in recent years
Activity in the northwest European (NWE) deep-water sector is recovering in line with the global picture as crude prices rise and budgets pick up. Most NWE deep-water activity is near existing infrastructure, and the targets are generally smaller than elsewhere, especially in the UK's sector. Adam Wilson, senior global exploration analyst at Wood Mackenzie, says most of the NWE region doesn't quite qualify as deep water (over 400 metres) or ultra-deep water (1,500 metres): "Strictly speaking, NWE deep water is confined to West of Shetland (WoS) and a little bit in the Norwegian Sea. The Barents Sea is frontier continental shelf, but not really deep water, with not much over 400 metres." Wils
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