What's ahead in 2001...North Sea prospects depend on price and technology

Research output: Contribution to specialist publicationArticle

Abstract

Economics professor Alexander G. Kemp (University of Aberdeen) believes 2000 has been a fairly tough year for both contractors and suppliers since budgets were based on oil prices that were well below those realized during the second half of the year. He predicts expenditures in field development to significantly rise in 2001 to about £4 billion ($5.78 billion) from just over £3 billion ($4.34 billion) in 2000. Kemp also believes that high oil prices alone will not spur exploration activity in the highly mature North Sea area. Technological innovations will also be necessary to maintain substantial activity levels.

Original languageEnglish
Pages40-41
Number of pages2
Volume221
No.12
Specialist publicationWorld Oil
Publication statusPublished - 1 Dec 2000

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Fuel Technology

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