Conoco Exit Highlights Shetland Cost Risks

摘要

BMI View: Conoco's plan to sell its stake in the largest UK oil development is indicative of the difficulties faced by the industry in the UK offshore segment, calling into question the economic profitability of West of Shetland projects. With falling oil prices and a refocusing by IOCs on higher value-added projects, there is further downside risk to investments in UK offshore.