North Sea Oil Majors Need To Increase Investment To Avoid SlowdownsHira Shahnawaz Akhtar
The North Sea has experienced sequential and constant declines in oil production over the past. Norway produced 61 million barrels of oil in August 2013 which was a decrease of 2.15 percent YoY. Norwegian oil production has experienced slowdowns over the past four years and has a four year CAGR of -5.94 percent.
Declining North Sea output
Annual oil production in Norway saw a peak on 1.52 billion barrels in 2000 and has halved ever since. Oil production in 2012 stood at 748 million barrels while . . .
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