Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

GlobalData : West of Shetland production to overtake North Sea for Shell and BP's UK portfolios by 2020

share with twitter share with LinkedIn share with facebook
share via e-mail
11/07/2019 | 06:05am EST
07 Nov 2019
West of Shetland production to overtake North Sea for Shell and BP's UK portfolios by 2020
Posted in Oil & Gas, Press Release

Over the last four years oil and gas production in the Westof Shetlands has risen and with that, a growing relevance for the biggest players still active in the UK continental shelf (UKCS), says GlobalData, a leading data and analytics company.

The company's latest research reveals that the Westof Shetland (WoS) area retains the attention of major Exploration and Production (E&P) players in the region; however infrastructure restraints could hinder future growth potential in the basin.

Despite the US based E&P majors, such as Chevron and ConocoPhillips largely divesting out of the UK's E&P sector of late, their European peers have not followed suit. Of the highly successful 30th UK Offshore Licensing Round held in 2017, approximately 75% of the licensed WoS blocks had European major* participation. Moreover, European majors have stakes in 80% of the Planned and Announced projects in the area compared to approximately 40% in the North Sea.

Daniel Rogers, Upstream Oil and Gas Analyst at GlobalData, commented: 'In 2018, Royal Dutch Shell (Shell) and BP Plc (BP)'s hydrocarbon production combined accounted for over half of the WoS total volume. Over recent years both companies have seen North Sea production volumes lose dominance in relation to their UK portfolios. As a result, the WoS is set to overtake the North Sea as Shell's major producing basin in the UK by 2020, whereas this occurred for BP in 2018'.

The majority of upcoming field developments in the area are oil focused as oil processing capacity at the Sullom Voe terminal is currently around half utilized with expected excess capacity available over the near term. However, the Shetland Gas Plant (SGP), where the areas gas is collected, processed and exported, is currently running at less than 25% spare capacity and newly discovered gas volumes in the basin could push the infrastructure to its limits.

Rogers continued: 'Total's recently discovered Glendronach gas-condensate field is expected to add over 200 million cubic feet per day (mmcfd) of gas supply to the SGP at its peak and could commence production as early as 2021. This, in addition to gas volumes coming from the Cambo and Rosebank oil field developments could further strain the existing infrastructure.

'Operators looking to develop new gas fields in the WoS through the mid-2020s could be challenged by the areas capacity restraints. The investments required for facility expansions may impact project returns and force operators away from marginal gas developments.'

*European majors refer to Royal Dutch Shell, BP Plc, Total SA and Equinor ASA


GlobalData plc published this content on 07 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 November 2019 11:04:05 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on GLOBALDATA PLC
01:16aGLOBALDATA : Asia set to drive global acetone capacity additions by 2023, says G..
11/20GLOBALDATA : US signs the highest long-term LNG export contract volumes globally..
11/20Retailers Split on Outlook for Holiday Sales -- WSJ
11/19Retailer Results Send Mixed Signals on Consumer Spending
11/13GLOBALDATA : China houses five of top ten mega capacity coal power plants global..
11/12GLOBALDATA : Citi leads GlobalData's top 10 global M&A financial advisers league..
11/12GLOBALDATA : Haynesville Shale expected to play crucial role in meeting future n..
11/12GLOBALDATA : Europe's tourism & leisure industry sees a rise of 5.05% in deal ac..
11/12GLOBALDATA : Citi tops GlobalData's top 10 global M&A financial advisers league ..
11/12GLOBALDATA : North America remains epicenter of global VC funding activity durin..
More news
Financials (GBP)
Sales 2019 177 M
EBIT 2019 40,1 M
Net income 2019 15,0 M
Debt 2019 50,1 M
Yield 2019 1,26%
P/E ratio 2019 95,1x
P/E ratio 2020 59,7x
EV / Sales2019 7,45x
EV / Sales2020 6,97x
Capitalization 1 268 M
Duration : Period :
GlobalData Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLOBALDATA PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 2
Average target price 920,00  GBp
Last Close Price 1 075,00  GBp
Spread / Highest target -14,4%
Spread / Average Target -14,4%
Spread / Lowest Target -14,4%
EPS Revisions
Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
S&P GLOBAL INC.57.63%65 467
RELX14.14%46 787
WOLTERS KLUWER24.43%19 310
EQUIFAX INC.51.77%17 114