Offshore staff

LONDON, UK -- Upstream consultancy Hannon Westwood says the UK North Sea is experiencing record levels of farm-in activity, as small independents seek partners to help fund their work programs.

The analysts' latest report, "Potential Farm-in Opportunities", identifies 107 UK North Sea wells between now and early 2008, of which around 50 will require farm-in funding. This breaks down as 23 in the central North Sea, 14 in the southern gas basin, two west of Britain, with a further nine wells targeting heavy oil or high pressure/high temperature plays.

Much of the interest in investment is coming from North American companies, according to Hannon Westwood's executive director, Chris Bulley.

12-14-06