After the crash – what's changed in North Sea upstream?

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12 June 2020

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

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:

  • Document

    After the crash_what's changed in North Sea upstream.pdf

    PDF 1.18 MB