North Sea challenges, market downturn underscore need for innovation

摘要

The difficulties facing the oil and gas industry in the North Sea are significant. After several years of relative stability which followed the 2008 global economic crisis, the price of oil has been falling for 18 months, reaching an historic recent low of sub-$35/bbl earlier this year. Today's low barrel price environment is forcing operators to find cost and operational efficiencies to survive, let alone thrive, and in a mature field like the North Sea, the challenge is even greater.