Gas capacity expansion is still constrained by pipeline vandalism, especially domestically.
Westwood Gloal Energy
As of 21 April, Westwood Global Energy reports that there are three exploration wells and two appraisal wells active in the UK North Sea.
Despite record cash generation, supermajors are investing $100bn less in upstream capex than a decade ago as low-cost, low-emissions projects take priority.
As of 27 January, Westwood Global Energy reports that there are three exploration wells active, with one in the NNS, one in the CNS and one in the SNS. Since the previous report, one well has completed at North Eigg and one appraisal well completed at Isabella.
More than 2 million barrels per day of floating production system (FPS) throughput capacity could be sanctioned this year – the highest for more than a decade – according to analysis from Westwood Global Energy.
Exploration companies big and small are warming up for a busy next 12 months – although some have warned this may be the last such push in the energy industry.
Westwood Global Energy has appointed David Linden to its newly created role of Head of Energy Transition.
Westwood Global Energy reports that, as of October 29, there were four active exploration wells and four appraisal wells drilling in the UK.