A Guest Post by George Kaplan Overall Annual Production Production is dominated by major international companies particularly, and maybe surprisingly, European ones. Principally Shell and BP, but with Equinor, Eni, Total and Repsol also active and many are (or were) seemingly wanting to expand in the area. Maybe this is an example of reciprocal technology transfer: the North Sea was initially developed with a lot of American offshore know how and there it may now be the reverse is happening as deeper water fields using floating and subsea systems are developed. The recent growth in production has come from the larger players, and they are taking a bigger slice of the expanding pie. The medium sized independents and smaller non-operating owners held many assets in shallow water but do not have the money, risk acceptance or knowledge to participate in the deep and ultra deep projects. Lease Operatorship Each […]