Assessing competitive scenarios for the new UK North Sea playing field

08/25/2003
BP PLC's divestiture of its Forties field assets to Apache Corp., as well as the sale of its interests in several southern North Sea gas fields to Perenco PLC, essentially launched the formation of a new industry structure in the UK North Sea (OGJ Online, Jan. 20, 2003).Other majors are following suit, and the role of the larger companies in the region appears to be shrinking.How will asset divestitures of the majors affect the competitive landscape in the UK North Sea?Through simulation and the creation of four scenarios, this article assesses the potential characteristics of the new environment in the region.Specifically, the article will show that:There is substantial value to be h...
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