Consilience/ Deloitte – March 2014
This report, produced by Consilience, takes a look at the decline in production of the four blends that comprise the BFOE basket (Brent, Forties, Oseberg and Ekofisk). Using field production data compiled by Deloitte LLP, Consilience has been able to analyse the production forecasts of all the major blends in the North Sea, Brent, Forties, Oseberg and Ekofisk (“BFOE”) – including the production from future fields that have not yet come on-stream. This process has allowed Consilience to take a view on what, if anything, can be done to secure Brent’s role as a price benchmark out to 2020.
Within this study Consilience considers:
– The future volumes of North Sea production.
– The future of the Brent Benchmark out to 2020.
– The decision making process behind the benchmark.