The North Sea appears to be at a crossroads. Last year saw a 28% drop in exploration and appraisal drilling in the UK Continental Shelf (UKCS) but a 44% rise in the number of new fields starting production – the highest number for five years.
The number of fields which began producing oil and gas in the UK hit its highest level for five years in 2013, as a number of operators focused on development activity. This is according to the latest report into offshore activity from Deloitte.
The infrastructure development boom across Africa has attracted investment worth US$222.7 billion, with 322 large infrastructure projects underway across the continent, according to a report by Deloitte.