Regional report: UK-Norway ///

Across the UK, levels of upstream exploration and appraisal (E&A) and deal activity have decreased since the peak seen in 2008. During first-quarter 2015, E&A activity in the UK was particularly low, with only 12 E&A wells drilled. In Norway, there was a peak of E&A activity in 2009, followed by a drop in activity in 2010 to 2012; however, 2013 and 2014 saw slightly higher levels. The first quarter of 2015 saw relatively high figures, with 14 E&A wells drilled. The UK continues to face challenges, including high costs, basin maturity, and poor weather conditions, which have all hindered activity. Onshore UK has seen its own challenges around public objection and environmental concerns, particularly with regards to unconventional drilling. In addition to these challenges, the oil price drop since the second half of 2014 has put further pressure on the industry.

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