UKCS remains attractive
i3’s UKCS race not run yet
The UK-listed independent has pivoted more towards Canada. But that does not speak to diminished enthusiasm for the North Sea basin
i3 Energy pulled off two transformational deals in the Covid era. Unusually among its peers focused on the UK continental shelf (UKCS), though, this M&A saw it shift from home waters to an entirely new geography in onshore Canada. So does that mean the firm has lost its appetite for the North Sea? Petroleum Economist spoke to i3’s CEO Majid Shafiq to understand more about the pros and cons of the basin at present. What is happening with your Serenity, Liberator and Minos High assets? Shafiq: The focus is on Serenity at the moment, which we could move forward to development after appraisal. We have been speaking to a number of counterparties, as we have told the market for a while now. Bu
Also in this section
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
