Relatively bright future for the North Sea
The basin may never recapture its glory days, but 2021 should still see players extracting significant value
The UK North Sea continues to be a question of relatives versus absolutes. It is well known that oil and gas production has declined since the highs seen around 2000, but overall growth has not been the focus in the region for years. What we are seeing more and more are companies making the most of what there already is in this material global producing basin, through existing fields and infrastructure being kept in production via efficiencies and tie-backs, near-field exploration to help facilitate this, and ownership changes to see the right assets increasingly in the right hands. While 2020 has been a challenging year for operators, it has not altered the impact of these themes, although
Also in this section
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
