Deloitte Petroleum Services Group

Deloitte : Investment Crucial for UKCS

The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling, licensing, and deal activity across the region for the whole of 2014, follows a year of change on the United Kingdom Continental Shelf (UKCS), along with volatility in commodity prices over the last five months. The report found that 40 wells were drilled offshore UK throughout the year. This is down on

UK North Sea Activity Report

production but 28% drop in exploration and appraisal drilling The number of fields which began producing oil and gas in the U.K. hit its highest level for five years in 2013, as a number of operators focused on development activity. This is according to the latest report into offshore activity from Deloitte, the business advisory firm. The report, detailing activity across North West Europe over the last 12 months and compiled by Deloitte’s Petroleum Services Group (PSG), found the number of U.K. fields which started production rose by 44% in 2013 (up from nine in 2012 to 13 in 2013). This figure

North Sea Q3 2013 Drilling Eased But Outlook Positive

programmes and there is no doubt that these have altered as a result of the maturity of the UKCS and accessibility to finance. He concluded: “The North Sea remains a focus for investment and we do not expect this to change in the very near future.” Source: Deloitte Petroleum Services Grou

Optimistic Forecast for North Sea Drilling

North Sea drilling activity remains steady, with a positive forecast for the next two quarters, according to a new report into offshore activity from Deloitte, the business advisory firm. The report, compiled by Deloitte’s Petroleum Services Group (PSG) found that although the number of new wells drilled on the UK Continental Shelf (UKCS) has fallen slightly in comparison to the same period last year, the level of exploratory activity remains healthy. A total of 16 exploration and appraisal wells were drilled in the UK during the second quarter of 2013 – seven more than during Q1 but