Barents Sea Back in Business

With activity in the Norwegian Arctic having been put on the back-burner through 2015, when only three exploration wells spudded, things may be about to take a turn for the better, if the recently announced 23rd Licensing Round is anything to go by.  The Norwegian Government has recently announced the award of 10 new production…

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Wells up, costs down

Whilst the latest downturn has clearly hit the E&P business hard, there are some positive messages emerging. Rig rates are substantially down meaning for those that want to spin the bit can do so for far less cost than two years previously.  And at the other end of the value chain is a reminder that…

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Whither Exploration?

With the oil price currently in the doldrums and the downturn in E&A activity, we have seen only 16 E&A starts on the UKCS during 2015, one of the lowest on record since offshore drilling on the UKCS began at the end of 1964. Across the median line in Norway the picture looks much rosier…

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