SPECIAL REPORT: Discoveries, undeveloped opportunities persist as offshore Europe oil output falls

Despite the growth of other regions, Europe remains one of the world’s largest offshore producing theaters.Nearly 600 offshore fields have been developed off Europe, involving a similar number of platforms plus some 380 subsea wells, over 200 subsea templates, and nearly 1,000 pipelines.However, the corporate scene has changed dramatically as declining production and high costs have forced the original developers, the oil majors, off to other regions. This has opened the way for a new breed of smaller players better geared to economically extracting the remaining reserves from a multitude of small fields and squeezing the last drops out of massively depleted existing ones.Across the...

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