What's inside this year's report?
Long-term upstream uncertainty shows no signs of abating. But in the short-term, the North Sea looks pretty good for oil and gas operators.
Production growth and near record cash flows are strengthening balance sheets and the region continues to be the beating heart of the upstream energy transition.
In North Sea upstream: 5 things to look for in 2022, we look at:
- M&A: consolidation, tax-driven deals and 'boutique' buyers
- FIDs: set to be a new record?
- Exploration: flat activity levels, but have we seen the last ever licensing round in the UK?
- Decarbonisation: platform electrification and new energies activity
- Fiscal: Norway proposals will pass, but could uncertainty in the UK lead to a cash grab?
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2023 Outlook