North Sea upstream: 5 things to look for in 2023

Predictions for the year ahead

1 minute read

What's inside this year's report? 

The North Sea will continue to churn out cash in 2023. This time governments rather than companies will set new records. Production will be stable, driven by up to 14 start-ups, including Shell’s Penguins redevelopment in the UK.

Investment will creep up, helped by a record number of FIDs in Norway in 2022. The UK could sanction the highest level of spend in 20 years but there is lots of uncertainty. And is it now or never for Cambo and Rosebank?

Powered by Lens Upstream, in North Sea upstream: 5 things to look for in 2023, we explore the five main regional trends to follow. This includes:

  • Exploration: Norway’s local heavyweights continue to underpin activity
  • M&A: plenty of opportunities but execution will be the challenge
  • And more.

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