The last days of oil

With most analysts agreeing the point of peak oil in the North Sea has been passed, the challenge is to squeeze as much of the remaining oil from it. However, those who will achieve this are unlikely to be those who sank the first wells into the hostile waters off our northern coasts.

New entrants to the sector from the US, Canada and elsewhere and start-up companies such as Kinch’s are changing the business ecosystem as the supermajors back off in search of easier harvests

These smaller players – as Kinch points out many of them are actually quite sizable corporations in their own right – with fewer demands to return high margins, are able to further exploit the resources of the North Sea as the region declines.

Sunday Herald