Derek Henderson - Office Senior Partner, Aberdeen
We all know that the North Sea is in uncharted territory. The
headlines over the past few months speak for themselves:
"North Sea oil industry close to collapse", "North
Sea oil at point of no return", and "Oil price crash
threatens the future of the North Sea oil fields". I'm
sure you get the gist.
While it's undoubtedly true that times are tough on the UK
Continental Shelf (UKCS), it's important that we don't lose
sight of the fact that its fate still lies in our hands. There are
steps that can be taken which could go some way towards clearing
the doom and gloom hanging over the North Sea - but they need to be
taken now.
Understanding context is key. Firms operating on the basin are
facing a perfect storm. The price of oil has sunk substantially in
the last few months, but now appears to be steadying off at about
$60 per boe. However, Oil and Gas UK's recent activity survey
also confirmed that last year
