a post by Bob Ruddiman is an energy law expert at Pinsent Masons, published on the Out-Law.com blog
There is a cautious optimism that, as the 'old guard' redefine where to deploy global resources over the next decade and more, there is a new generation of owners ready to take their place who will inject fresh thinking and renewed impetus to maximise recovery and returns from an ageing basin. It is said that the best place to find and extract hydrocarbons is often the place they have been found already.
In 2017, some of the major operators loosened control while others sharpened their focus on core areas for investment. Shell's $3.8 billion disposal of a package of North Sea assets to Chrysaor was the largest of the 'exploration and production' (E&P) deals over the course of a year which also saw a significant increase in infrastructure changing hands. EnQuest acquired an interest in the Sullom Voe terminal from BP, Ancala Partners took on Apache Corporation's SAFE pipeline interest and INEOS, owner of the Grangemouth oil refinery, expanded its portfolio with the purchase of the Forties pipeline system.
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