The UK offers operators best profit conditions to develop big offshore fields
That’s what an analysis carried out by Rystad Energy concludes. But are there any undeveloped discoveries of the size of Johan Castberg in the UKCS?
Rystad Energy
Covid-19 pushes service sector headcount to lowest level in over a decade
An analysis carried out by Rystad Energy concludes that oilfield service companies’ staffing levels are set to reach its lowest level in more than 10 years.
Undersupply in 2025
Rystad Energy predicts a future undersupply of 5 million bpd of oil and significantly higher prices.
Rystad Energy expects a 17 % CAPEX decline in 2020
This will be the lowest CAPEX of the last 13 years. In their scenario, Rystad Energy expects 34 USD per boe in 2020 and 44 USD per boe in 2021.…
E&P forecast turnaround for 2020 affects service industry
The recent fall in oil prices, down to 31 $, may have a devastating effect on the Overall oilfield services (OFS), according to Rystad Energy. The total capital and operational…
Oil production to increase in 2020
– Western Europe’s oil supply, with Norway and the United Kingdom as key contributors, is set for a renaissance this year and a growing trajectory going forward, according to Rystad…
De-risked prospects on the UKCS
Glengorm, the largest discovery in more than a decade, may have de-risked similar HPHT gas-condensate prospects.
Disappointing exploration
Only 12 Bboe of conventional oil and gas were discovered globally last year, according to Rystad Energy. This is about the same as in 2018 and 2017, but far less…
Significant oil discovery offshore Guyana for Tullow Oil
Jethro-1 is Tullow’s first well drilled offshore Guyana, located in the Orinduik block. The license is operated by Tullow (60%), with Total E&P Guyana B.V. (25%) and Eco (Atlantic) Guyana…
US in the lead
The United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion barrels more than Saudi Arabia and almost 100 billion barrels more than Russia, according…
NW Europe in Top Ten
Some 3.2 billion barrels of oil equivalent (boe) were discovered world-wide in the first quarter of 2019, according to Rystad Energy. This compares with 9.1 billion boe discovered in total last…
Europe and North America not contributing to growth in sanctioned volumes
Oil and gas market analyst Rystad Energy is expecting a rise in 2019 of final investment decisions (FID’s) on new petroleum projects (excluding shale and tight oil and gas prospects)…