Insight
Europe Upstream - what to look for in 2015
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Report summary
2015 will be a challenging year for the European upstream sector as companies adjust plans to reflect the low oil price. We expect exploration budgets to be hit hard, but all discretionary investment will be closely scrutinised. The high profile projects in the UK and Norway, such as Clair and Johan Sverdrup, are expected to continue as planned. We have highlighted the key events to look for in the region this year.
Table of contents
- North Sea activity to fall
- A further and more significant UK tax rate reduction
- M&A will become more of a niche pursuit in the North Sea
- Future projects in the North Sea to benefit from reduced costs
- Groningen production cap to be lowered
- Major milestones for Johan Sverdrup
- Further delays in the Barents
- UK key projects to watch
- Corrib first production after 12 year delay
- New entrants in the UK onshore unconventional sector
- Push for indigenous gas production in southeast Europe
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