HomeMagazine2014June 2014, Vol. 241, No. 6Deloitte Forecasts Lower North Sea Activity Levels

June 2014, Vol. 241, No. 6

Projects

Deloitte Forecasts Lower North Sea Activity Levels

Drilling and deal activity on the UK Continental Shelf (UKCS) will remain at a steady low for at least the next year, suggests a new report from business advisory firm Deloitte. Poor weather and high costs have affected the amount of exploration and appraisal (E&A) work conducted in the region during the first quarter. The report, which details activity across North West Europe, found 12 E&A wells were drilled on the UKCS. Although that’s an increase of five wells compared with the final quarter of 2013, it is one less than the same period last year. There were fewer deals completed compared with the same period last year, with 10 this quarter compared to 19 a

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