Europe upstream: what to look for in 2016

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Report summary

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.

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    Europe upstream: what to look for in 2016

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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

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  • Europe upstream: what to look for in 2016 map

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