Top reasons to operate offshore UK

Developing late life assets

Small cap operators have a great opportunity in the UKCS to develop late life assets, as majors seek to sell their maturing assets in the region it is the small cap who can benefit. By taking on a project that has a good track record and where the amount of recoverable reserves are already proven, it is thought to be easier to gain access to capital.. something that is particularly important when the capital markets are so unforgiving.

West of Shetland

West of Shetland is deemed to offer more opportunities than the UKCS, which is viewed as a maturing region of the North Sea. A new sense of optimism and investment in the region has brought new players to the region in recent years.

There is great potential for major exploration success, for example, Premier Oil are developing the Solan Field and ‘it is expected to produce about 40 million barrels of oil, with an estimated initial production rate of 24,000 barrels of oil per day from the fourth quarter of 2014.’ Reported the BBC. The region is more technically challenging and those operators who have the experience and technology to handle deep-water reserves will be able to flourish here.

Proven region of E&P success

The UKCS has a strong-40year-proven track record of E&P success.. from NOCs and IOCs to small caps, each type of oil and gas operator has witnessed resounding success in the region. While many comment on the mature assets and see the region as declining in importance, investment is still strong with dozens of operators regularly investing in and focusing their efforts in the region.

To find out more about this and more please see the Oil & Gas Outlook North Sea conference at: www.terrapinn.com/northsea