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Wednesday, September 7, 2011

Industry Professionals Optimistic about N. Sea Future -Study

- Industry Professionals Optimistic about N. Sea Future -Study

Wednesday, September 07, 2011
GL Noble Denton

Oil and gas industry professionals are optimistic that there will be increased investment activity in the North Sea next year, according to a poll conducted Tuesday at the Offshore Europe conference in Aberdeen. 57% of participants believe that activity will increase, while 22% think that activity will decrease in the region. 21% of survey respondents had no opinion on the matter.

The poll forms part of a survey being conducted by the Economist Intelligence Unit and commissioned by global independent technical advisor GL Noble Denton. It will contribute to a comprehensive report on the outlook for the sector, to be published in January 2012. The report will gather the opinions of oil and gas professionals and provide a complete view of the challenges the sector expects to face next year and beyond.

Pekka Paasivaara, Member of the GL Executive Board, said, "The result of this poll clearly shows that recent concerns over hefty taxes, aging assets and increased operating costs have not dampened optimism for further investment in North Sea oil and gas operations next year.

"This finding will be valuable to the research that GL Noble Denton has commissioned the Economist Intelligence Unit to undertake, and it will be interesting to see whether this optimism for investment in North Sea operations is reflected in other regions."

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