North Sea upstream: 5 things to look for in 2026
Predictions for the year ahead
1 minute read
Greg Roddick, Gail Anderson, Toby Fulton, James Reid, Daniel Rogers, Ross McGavin and Jack Richardson
The North Sea is facing a range of challenges, but the changing corporate landscape and long-term ambitions will shape the opportunities for investment across the region.
Capital discipline will be front of mind as North Sea companies plan for a period of lower oil and gas prices. But the response to tough fiscal and regulatory policy (UK), the unwinding of the current investment cycle (Norway) and lack of opportunities (Denmark) are more significant factors that will see investment fall year-on-year.
How will these themes – and more – play out in 2025? Drawing on unique insight from Lens Upstream, our experts have set out the five key things to look out for in the year ahead. This includes:
- Investment to fall – but momentum in Norway to develop faster?
- Supply will remain steady, but risks are finely balanced
- Uncertainty will create M&A opportunity – UK consolidation will continue to play out as Norway remains limited to smaller assets deals.
- And more.