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UKCS projects seek momentum in low-price environment Tayvis Dunnahoe

By: Dunnahoe, Tayvis
Subject(s): Caída de precios del petróleo | Industría del petróleo | Petróleo In: Oil & gas journal Vol.113, No.2, 2015: páginas 46-47Abstract: The number of new offshore field development approvals on the UKCS declined sharply from 2012, up to and including the first half of 2015. Hannon Westwood recently examined 32 near-term developments (NTDs)-appraised discoveries likely to be developed within 5 years-representing a contingent resource volume of 16 billion bbl of oil. The report determined that 60% of these projects remain economic at oil prices below $60/bbl (Fig. 1). Despite this, the firm says there is little sign these assets have real development potential, opening the possibility that a large volume of potentially commercial UKCS oil resources will be stranded.
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Holdings: Oil & gas journal Vol.113, No.2, 2015: páginas 46-47

The number of new offshore field development approvals on the UKCS declined sharply from 2012, up to and including the first half of 2015. Hannon Westwood recently examined 32 near-term developments (NTDs)-appraised discoveries likely to be developed within 5 years-representing a contingent resource volume of 16 billion bbl of oil. The report determined that 60% of these projects remain economic at oil prices below $60/bbl (Fig. 1). Despite this, the firm says there is little sign these assets have real development potential, opening the possibility that a large volume of potentially commercial UKCS oil resources will be stranded.

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