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Oil and Gas Report

In: Science

Submitted By FXNVIRI
Words 5830
Pages 24
The North Sea: vital to the future of the oil and gas industry

Contents
3

Foreword

14 Section seven: Forecasts and financials

4

Section one: A new dawn

16 Section eight: Interview with Robin Watson

5

Section two: Growth and investment

18 Section nine: Conclusion

8

Section three: Workforce

19 Section ten: Key takeaways

10 Section four: Foreign ownership

20 About the author

11 Section five: Unconventionals
12 Section six: The road ahead

The survey which underpins this report was conducted by B2B International on behalf of Barclays. All charts, data and statistics featured in this report are the product of the results of this survey. Interviews were conducted with
80 oil and gas operators between May and July 2013.
T: +44 (0)161 440 6000 b2binternational.com 2 of 21

Foreword
The North Sea success story continues. Investment is at a 30-year high and exploration and production activity levels indicate supply for decades to come. Investment from UK and foreign companies alike, coupled with welcome government tax incentives, support this positive outlook. With global demand strong and substitutes so few, Barclays shares this optimism.
The United Kingdom Continental Shelf (UKCS) remains a region rich in opportunities and ripe for investment, not least because of the high commodity price. In fact, investment in the North Sea has reached a 30-year high1 and plans are being drawn up to ensure exploration and production (E&P) activity continues for decades to come.
The evidence points to a positive future – certainly in the short to medium term. The first half of 2013, as with the final months of 2012, has been positive, with a procession of good news stories, culminating in increased investment from both UK and foreign corporations. Our research shows encouraging signs of future investment from the…...

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