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Article: Officials: North Sea still major player in world energy market.
- Article from:
- Natural Gas Week
- Article date:
- October 31, 2005
- Author:
CopyrightCOPYRIGHT 2005 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mark Twain once said that news of his death may have been a bit premature. The same can be said for oil and gas production in the North Sea.
About 10 years ago, the Gulf of Mexico was being similarly written off, with some in the industry calling it "the dead sea." Both the Gulf and the North Sea are mature fields and both are seeing the majors move into deeper waters and independents moving in.
"Recent price increases and new technologies have helped make the North Sea more competitive," said Jim Davis, manager of the Energy Team with Scottish Enterprises. "The region is a stable, mature field that is still seen as an area where operators can get a ...