Press release
North Sea Oil and Gas Upstream Market Report Helps To Predict Investment In An Emerging Market For The Forecast Period 2026
The North Sea Oil and Gas Upstream Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the North Sea Oil and Gas Upstream market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the North Sea Oil and Gas Upstream market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the North Sea Oil and Gas Upstream market.North Sea oil and gas upstream market is expected to grow at a CAGR of over 3% during the forecast period of 2020-2025.
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Top Leading Companies of North Sea Oil and Gas Upstream Market are - Equinor ASA, Exxon Mobil Corporation, Royal Dutch Shell Plc, BP plc, Eni SpA, Total SA, UK Oil & Gas PLC, Schlumberger Limited., Transocean LTD and others.
Key Market Trends:
Shallow Water Segment Expected to See Significant Market Growth
- Shallow water segment due to fewer capital investments and inflated oil prices held a significant market, in 2019. Most oil and gas upstream operations in the North Sea are done by two countries, Norway and the United Kingdom. More than 85% of the oil and gas production in the United Kingdom came from shallow water in the region.
- The United Kingdom oil and gas sector is dominated by production from offshore areas, which account for virtually all of the oil and gas production of the United Kingdom. UKCS (the United Kingdom Continental Shelf) production now comes from more than 300 small fields and others that are much more technically complex to produce. In 2019, more than 40 contracts offshore were distributed by the United Kingdom, most of which are for the activities in the shallow water.
United Kingdom to Dominate the Market
- In 2019, the United Kingdom held a significant share in oil and gas production in the North Sea region as all of the oil and gas produced in the country are from offshore operations. The United Kingdom, in 2018, produced 50.8 million tons of oil, thus contributing approximately 7% of the total oil production in Europe, which was higher than what is produced in 2017, 46.6 million tons of oil.
- In 2019, BP plc completed its Culzean project in the North Sea, and it is expected to produce 200000 barrel oil equivalent per day of hydrocarbon by 2020. Further development in the region is expected to have a positive impact on the North Sea oil and gas upstream market.
- In December 2019, UK Oil and Gas (UKOG) conducted a successful reservoir test on Horse Hill Oilfield in the United Kingdom. After the test company now intends to accelerate the start of up to 25 years of continuous long-term production from the field. The company also planned to drill several directional wells in the region.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- North Sea Oil and Gas Upstream Market Size & Analysis (2016 - 2026)
- Market Share Analysis of North Sea Oil and Gas Upstream Market (%),2016 - 2026
- North Sea Oil and Gas Upstream Market Share, By Brand
- North Sea Oil and Gas Upstream Market Share, By Company
- North Sea Oil and Gas Upstream Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies North Sea Oil and Gas Upstream Market Value Analysis & Forecast
- Promising North Sea Oil and Gas Upstream Development by Major Companies
- Detailed North Sea Oil and Gas Upstream Portfolio of the Major Companies
- Major Deals in the North Sea Oil and Gas Upstream Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/10192358228/north-sea-oil-and-gas-upstream-market-growth-trends-and-forecasts-2020-2025?Source=openpr&Mode=namita
We Offer Customization On Report Based On Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
CONTACT US:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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