Wood Mackenzie reveals five North Sea upstream themes to look out for in 2026
Investment to fall as Norway projects unwind while UK faces lowest spending in over 50 years.
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Investment to fall as Norway projects unwind while UK faces lowest spending in over 50 years.
The landmark agreement establishes the UK’s first commercial-scale lease of the seabed for permanent offshore CO2 storage and associated pipeline infrastructure, providing a template for future carbon capture and storage (CCS) projects around the UK’s coastline.
DNV approval validates ModuSpec’s integrated Argus well control assurance platform, paving way for deployment in the Norwegian offshore market.
CNR International fined £250 000 for excessive venting; NEO fined £100 000 for attempting well abandonment without consent.
Marine seismic innovations business PXGEO has strengthened its senior leadership team with two key appointments to drive operational excellence across its global operations.
His addition to the Board strengthens Sentinel’s strategic leadership as the company continues its global expansion.
This contract marks fifth pre-commissioning scope for offshore Guyana.
Exploration spending faces pressure as industry pivots to strategic acreage deals, giant field redevelopment, and next-generation geothermal commercialisation.
By revitalising existing seismic and well data, this project will advance the understanding and promotion of Malta’s offshore petroleum potential in the Central Mediterranean.
Mitchell Wallace, Managing Partner at StreamLynk Partners, a partner of Vroozi, suggests that while procurement perfects compliance metrics, operations burns millions waiting on materials.
TotalEnergies (35%, operator) and its partners Eni (35%) and QatarEnergy (30%) have signed an agreement with the Lebanese government to enter Block 8 exploration permit offshore Lebanon.
The report identifies five key themes that will shape the upstream sector in 2026 as operators balance capital discipline with strategic portfolio positioning for the 2030s.