Tag: Deloitte

A new report from Deloitte, the business advisory firm, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review, calls on the new regulator – the Oil and Gas Authority (Ian Wood), the Government and companies operating in the North Sea to adapt to a new reality in the basin.The report found that drilling activity on the UK Continental Shelf (UKCS) needed to double to more than 90 wells per year over the next two decades to make the most of the estimated USD 1.3 trillion worth of oil and gas that potentially remains.

Oil and gas operators may be sitting on new investment decisions until the future of the North Sea becomes clearer, according to the latest report from business advisory firm Deloitte. The report, which details drilling, licensing and deal activity across North West Europe over the third quarter of 2014, was compiled by Deloitte’s Petroleum Services Group (PSG) and found that four deals were announced offshore UK.