Projects worth £111billion are currently being proposed for development are or are under development in the UK and Norway North Sea, according to a report issued at Offshore Europe today.
The projects include significant investments in floating production vessels and the subsea sector, said EIC, a data services company which also launched a new arm, EIC Consult yesterday.
It said the UK and Norway currently had 168 and 117 offshore projects respectively being proposed for development or currently under development with an investment value of £66billion for Norway and £45billion for the UK.
This compares to £81billion in the Caspian in Kazakhstan.
Key projects in the North Sea include the Mariner and Bressay heavy oil fields off the east of Shetland and the Schiehallion and Loyal fields west of Shetland.