Sea of possibilities
Collaboration will be the key to maximising the North Sea's remaining potential
After decades of prosperity, oil and gas production is in decline in the North Sea and reserves will be depleted within a decade, according to a new report by Edinburgh University. This is despite a recent discovery by Statoil of around 25m recoverable barrels of oil close to the Scottish coast. It's not all doom and gloom however. The North Sea Opportunity, a report published by the Netherlands Committee of the World Energy Council, highlights that there are opportunities to cut the costs of decommissioning and even open up new markets including wind and biomass. "Oil and gas will continue to be an important source of energy for the foreseeable future," said Dr Uwe Franke, Chairman of the G
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
