Investment decisions have been left hanging on field developments totalling around 3 billion barrels of oil equivalent as cost-conscious operators have been reluctant to move forward amid low oil prices, preferring to prioritise cash returns for shareholders, WoodMac’s principal oil and gas analyst Malcolm Dickson told the ONS conference in Stavanger.
He said more than 10 projects have been deferred or scrapped over the past two years since the oil price plunge, resulting in an estimated $50 billion being wiped off projected capital investment in Norway over the next four years.
The
