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19/07/2013

North Sea Activity Remains Steady

A new report has suggested that drilling activity in the North Sea remains steady.

According to the BBC, accountants Deloitte found drilling activity in the UK Continental Shelf (UKCS) was now returning to 'healthy levels' following a prolonged winter period.

In the second quarter of 2013, the report suggests 18 wells were drilled. This is seven more than in the first quarter of the year, but is still two fewer than the same period in 2012.

The company said the figures were promising ahead of the final two quarters of the year.
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Elsewhere in the findings, field developments were also said to have remained steady, with six fields granted development approval from the Department of Energy and Climate Change (DECC), with four coming on-stream across UK and Norwegian waters.

Only three fields were due to come on stream in the UK, compared with five in the same period in 2012.

Graeme Sheils, Energy Partner at Deloitte in Aberdeen, said: "This quarter's stable drilling figures should not detract from the fact that the UKCS is experiencing high activity levels.

"The market is currently buoyed by a number of factors including a stable oil price, increasing investment and government incentives.

"With a more positive domestic outlook also beginning to emerge across the rest of the UK, there is a lot of confidence in the outlook for the North Sea sector."

(JP)

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