North Sea's golden years
The region may be past its prime but is still running with the best
The North Sea has been through a remarkable change since the oil price fall in 2014. Costs have dropped by as much as 40% and, against the odds, a new slate of projects awaits investment decisions in 2018. Despite its maturity, the region still sucks in investment and competes with upstart shale oil and low-cost Opec resources. Two fundamental drivers are behind the North Sea's continued attractiveness: it's conventional oil, relatively easy to get to, and it's located in politically placid OECD waters. OECD conventional liquids production has declined from about 23m barrels a day in 1997 to about 17m b/d in 2017. For producers that don't have access to North American unconventional projects
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
