Insight
After the crash – what's changed in North Sea upstream?
Report summary
The North Sea’s upstream sector has been hit hard by the oil price crash. But operators have responded quickly. 2020 investment has been slashed with almost all but essential spend either deferred or cancelled. In 2020, compared to our pre-crash view, capital expenditure is down 30%, only four FIDs are expected over the line and corporate valuations have fallen by US$60 billion. Powered by our Lens Upstream platform, we evaluate how our latest regional outlook contrasts with our pre-crash view.
Table of contents
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Executive Summary
- So, what's changed in the North Sea?
Tables and charts
This report includes 2 images and tables including:
- North Sea capital expenditure by country
- Capex changes by development status
What's included
This report contains:
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