Sustained Low Oil Prices Threaten the Development of Northwest Europe's Frontier Basins
The partners in the Johan Castberg and Rosebank fields are continuing to delay the announcement of their Final Investment Decision in order to spend more time maturing the design for their field's development concept. This is due to rising development costs, plummeting commodity prices, uncertainty over the resource base, and a lack of nearby commercial discoveries. In combination, these aspects threaten to severely hamper the development of both Norway and the UK's most promising oil and gas provinces: the Barents...
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