UK emphasis seen shifting to E&P vs. divestment

Click here to enlarge imageThe UK upstream sector is in transition from a focus on asset divestment to an emphasis on traditional exploration and production and high-grading portfolios.So says Wood Mackenzie Consultants Ltd., Edinburgh, in a study that ranks the top 20 UK upstream oil and gas players according to their upstream value.After its merger with ARCO, BP Amoco PLC tops the list of those companies with operations in the UK, based on total upstream value. In fact, BP Amoco major holds 19% of the UK's total figure, or about £8.86 billion, says Wood Mackenzie.Wood Mackenzie estimates a total base asset value for each company, calculated on the basis of 10% net present val...

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