UK North Sea suffering consequences

摘要

The U.K. sector of the North Sea is, as the British would say, in a spot of bother. Companies across the industry here in the U.K. are desperately trying to find a way to revive a sector that has become moribund. Get your dictionaries out - that means "close to death." Of course, even if newfield investment slumps more than it already has - currently estimated at 50% - production will continue here for decades yet. But much of what is estimated to be extractable (more than 20 Bboe in reserves) would remain in the ground. In this case, the recommendations in last year's report by the estimable Sir Ian Wood for "maximum economic recovery" from the sector would be unachievable.