Opinion

North Sea upstream: 5 things to look for in 2025

Predictions for the year ahead

1 minute read

After the fallout and uncertainty around the UK windfall tax, companies and government may put their differences aside and agree on a successor to the EPL in 2025. The government may announce plans to legislate for the new fiscal terms in its Autumn budget.

For our view on this, and more themes and trends we believe will shape the year ahead, read North Sea upstream: 5 things to look for in 2025. 

Drawing on unique insight from Lens Upstream, it includes our take on:

  • Regulatory risk: how far will fiscal, emission and licensing changes go?
  • Investment decisions: what FIDs are expected and what are the risks?
  • Exploration: where will the biggest bets be placed?
  • And more. 

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