LONDON: The UK North Sea is on track for the biggest year of oil and gas field startups in a decade, continuing the ageing province’s surprising resilience to the crude-market slump.
Fourteen projects with combined peak production of 230,000 barrels of oil equivalent a day will start in the region this year, according to data from consultant Wood Mackenzie Ltd. That’s the most since 2007, reflecting the payoff from multi-year investments begun when oil prices were still over US$100 a barrel.
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