2016 will be another challenging year for the European upstream sector as companies continue to adjust to survive and adapt to the low oil and gas prices. It will be a year where budgets are hit hard, all discretionary investment is closely scrutinised, and operators take big decisions about assets and portfolios. The industry has been through this cycle before and we can expect it to look quite different at the end of the year. We have highlighted the following key events to look for in the region this year.
Table of contents
North Sea upstream activity to fall
Key projects: 13 fields onstream, 46 under development, five project FIDs
M&A activity to pick up
UK field cessation: the beginning of the end for UKCS?
Innovation will be the key to cutting costs in 2016
A busy year for licensing: excitement over the Southeast Barents
Exploration spend set to fall again
Production across Europe is expected to fall, driven by reduced investment
Unconventional oil and gas: UK to lead the way
Fiscal changes considered across Europe
Tables and charts
This report includes 1 images and tables including: