EnergyWatch

Report: Acute capital needs in the North Sea

The British part of the North Sea will see a large decline in the production of oil and gas if new investments are not secured ahead of 2020.

Things are improving for the British part of the North Sea where efficiency measures, pressure on wages, and layoffs have made the oil and gas sector more competitive. But it is still too soon to breathe a sigh of relief.

This is the conclusion in a new report from Oil and Gas UK. The report "Business Outlook" predicts a large dive in production from the British fields starting in 2020 if new capital is not found for the development of aging, UK fields.

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