Oil & Gas Outlook - What's next for the UKCS?

Well, how do you sum up a year like 2018? There’s certainly been no shortage of talking points that’s for sure.

Let’s leave the drama of the political and social spheres aside and focus solely on the oil & gas sector though. After the vicious downturn the backdrop to the last 12 months has clearly been a significant recovery in oil prices, with some optimism as the oil price stabilised across 2018. This provided the necessary conditions for market recovery and the renewal of capital investment, both in the North Sea and further afield.

As we look back across a year of progress and challenges in the Oil & Gas sector 5 partners from across our team here at Burness Paull have shared their thoughts on where the industry is right now. Our service sector clients are still feeling pain but there is little doubt that the improvement in the oil price and the hard won efficiencies of the last few years have positioned the industry well for what we expect to be improved conditions in 2019. Whilst we cannot predict the future, we wish you the very best for your business in 2019 and beyond.