Smaller field developments off UK, Norway dominate activity off Northwest Europe

Upsides are evident even as Western Europe's offshore basins mature.Western Europe is currently the world's seventh largest oil producer, and the majority comes from offshore. Although a number of European countries—Denmark, Germany, Ireland, and The Netherlands—produce from offshore, the region tends to be dominated by the activity of Norway and the UK, which possessed almost 80% of Western Europe's total original offshore oil reserves.After years of intense exploration and field development activity, total oil production peaked in 1999. To date nearly 500 offshore fields have been developed or are under construction off Western Europe, of which some 45 have been ...

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