UK and Norway upstream costs - how far will they fall?
High capital and operating costs are the single biggest issue for companies in the UK and Norwegian sectors of the North Sea. Developing and running fields while making a profit has become ever more challenging, even during the 'good times' of oil prices around US$100/bbl. Radical changes are required to correct the cost base. So, what can we expect to change? And why? We detail our expectations for cost deflation across the UK and Norway.