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Shell predict healthy future for North Sea oil into 2030s

Oil giant Shell predicts a bright future for the North Sea. Picture: Ivar Langvik

ANGUS HOWARTH Published: 09:38 Wednesday 06 December 2017

A senior executive at Shell has predicted a bright future for the North Sea into the next decade and beyond. Steve Phimister, upstream vice president for the UK and Ireland for the multinational oil giant, said the company had no plans to sell off any more assets in the region. Speaking at an event in Aberdeen yesterday he said: “We have, in the last year, conducted quite a significant divestment of a package of assets. It’s been done very intentionally and very clearly with an intention to focus on our core business. “We’ve said we will invest millions, maybe north of $500million a year in order to rejuvenate that portfolio and keep it sustained.” FULL STORY

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