Wood Mackenzie’s review of 2009 UK upstream activity

Global Energy Research firm Wood Mackenzie’s latest report ‘Review of 2009 – UK Upstream Sector’ reveals the impact of the depressed economic conditions on activity in the UK’s upstream sector during 2009. Exploration and appraisal drilling plummeted by 37 percent as the global financial crisis and the resultant lack of funds led to an overall reduction in activity. Furthermore, uncertainty in the oil price—which started the year at US$30 per barrel and ended at US$80 per barrel—caused delays to projects and wells.

Access report announcement here