Aberdeen | Upstream Briefing 2024

North Sea and Continental Europe Upstream Outlook: 2024 and beyond

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Fiscal instability in the UK North Sea has undermined investor confidence. In the event of a Labour win in the upcoming election, Labour's tax plans would deal another blow to operators already under pressure from successive EPL changes and tough targets to cut emissions.  In a very mature UKCS, could Labour’s plan to generate £10.8 billion of extra revenue backfire? And how will corporate strategies respond to these mounting risks?

By contrast, investment in Norway is booming on the back of its 2020 tax package, supported by a stable fiscal regime. Can Norway replenish its project pipeline and sustain output longer-term whilst maintaining its role as a secure and reliable supplier of lower intensity energy to Europe?

As Continental Europe reduces its reliance on Russian gas, governments are looking to their own domestic supply to maintain energy security.  After a decade of production decline and underinvestment, we look at how the trend will reverse at Europe's next phase of major gas developments.

Join us for our Afternoon Briefing where our team of experts discuss the outlook for the North Sea and Continental Europe under these very different investment climates. Including:

  • The investment climate in Europe
  • How the upstream M&A market is responding
  • Upstream investment trends
  • European exploration hotspots
  • Emissions: how low can they really go?
  • North Sea decommissioning
  • Replacing Russian gas: the outlook for Continental Europe


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Our speakers

Ross McGavin​

Senior Research Analyst, Continental Europe​ Upstream

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Greg Roddick

Principal Analyst, Upstream

Greg has almost 15 years of industry experience, focused on corporate strategy, fiscal modelling and economic analysis.

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