Emma Cruickshank

Jan 23, 2025 | offshoresource.com | Emma Cruickshank

The UK and Norway oil and gas sectors experienced very different years in 2024, and these differences are only expected to further diverge going forwards. In the UK, a change in Government, the October Budget and resultant changes to the EPL dominated the sector in 2024. Although the industry might now see some fiscal stability, frustration amongst the industry continued with even more support taken away from an already struggling sector.

Feb 14, 2024 | offshoresource.com | Emma Cruickshank

2023 was a year of recovery in the wake of the Ukraine conflict and subsequent impact on energy prices. Norway continues to play a vital role in contributing to Europe’s energy security and saw a record volume of project approvals and planned investment. In the UK, political uncertainty combined with inflation, price volatility and fiscal stability all added to the mix of challenges for the UK sector in 2023.

Feb 12, 2024 | westwoodenergy.com | Alex Middleton |Emma Cruickshank

2023 was a year of recovery in the wake of the Ukraine conflict and subsequent impact on energy prices. Norway continues to play a vital role in contributing to Europe’s energy security and saw a record volume of project approvals and planned investment. In the UK, political uncertainty combined with inflation, price volatility and fiscal stability all added to the mix of challenges for the UK sector in 2023.

Nov 28, 2023 | westwoodenergy.com | Alex Middleton |Alyson Harding |Catherine Horseman-Wilson |Emma Cruickshank

On 15 September 2023, the NSTA announced the 14 companies that have accepted the 21 awarded licences in the UK’s 1st Carbon Storage Licence Round. The results of the Round saw both an expansion of existing carbon storage projects as well as adding several new projects. Westwood forecasts that if all projects can achieve their proposed timelines and secure a source of CO₂ to inject, then the UK could achieve its 2030 and 2035 targets.

May 26, 2023 | westwoodenergy.com | Oliver Solly |Alyson Harding |Emma Cruickshank |Catherine Horseman-Wilson

On 18 May 2023, the North Sea Transition Authority (NSTA) announced the preliminary results of the UK’s 1st Carbon Storage Licensing Round with the offer of awards for 20 carbon storage licences to 12 companies (Figure 1). Westwood has reviewed each of the licences offered to identify the potential storage targets in depleted hydrocarbon reservoirs and saline aquifers.