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
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
