United Kingdom Oil & Gas Q4 2018
Persistent and chronically low exploration levels raise a significant red flag for the future production potential of the UKNorth Sea, with only modest upside risk to future output from the latest licensing round. Crude production will increase over thenext two years as new major projects are brought online. However, this boost will be ephemeral, with a lack of new projects ensuringa structural decline from 2019.
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