Can the North Sea Survive the Oil Price Crash?
Can the North Sea Survive the Oil Price Crash?
In the short-term, yes.
That’s according to Neivan Boroujerdi, a principal analyst in Wood Mackenzie’s (WoodMac) North Sea upstream team.
Longer term, however, investment is required to increase production and reduce unit costs, according to WoodMac. If the industry goes into “harvest mode”, a premature end is “inevitable”, the company noted.
“Most final investment decisions for 2020 ar...