In our recent Insight Conversation video, the CEO of Premier Oil, a UK independent upstream oil and gas company with interests in the North Sea, the Falkland Islands, Southeast Asia and Latin America, sat down for a conversation with Nick Coleman. Why would anyone invest in the declining North Sea? The UK North Sea, on most people’s estimates, is something like two-thirds of the way through its producing life, having produced about 40 billion barrels out of a possible 60 billion barrels. Twenty billion barrels is a lot of life left in the UK. What you have seen as the province becomes more mature is that it becomes less material for the bigger companies. I think over the next one to two years there will be more and more examples of the majors, the bigger companies, in effect selling assets to mid-cap companies like ourselves for whom the UK North Sea is still very material, and there are many opportunities. It’s not just frankly that the majors are selling – it’s that over a period of time now, maybe as much as five years, they’ve not been actively investing in opportunities. For us, first of all we have some growth… continue reading
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Source: CTRM Center