The North Sea is the key to European energy security, with Simon Sjøthun

Let’s Talk Energy and dive into the North Sea, the epicenter of Europe’s energy industry. Since the first discovery of oil and gas at Ekofisk off Norway in 1969, the basin has provided Europe with its largest volumes of domestic hydrocarbons. Although fossil fuel production has peaked in the region, the North Sea has become a leading frontier for the development of offshore wind. Now, the strategic value of the basin's energy production has grown since Russia’s invasion of Ukraine and the ensuing price volatility from Europe’s push to kick its dependence on Russian oil and gas.  What is the outlook for both fossil fuel and renewable energy production in the North Sea?  What do companies need to do to ensure projects are globally competitive?  How should we think about North Sea production for the countries that share it, and for the broader European continent in an age of growing worries about energy security?   Related AnalysisShrinking waters: Labor and investment under pressure in the North Sea (clients only)  Passing the torch: As majors exit the UKCS, domestic players step up  (clients only)  Divest, merge or decommission: The dilemma facing high-opex UK producers (clients only)   Related EpisodesWho will make money in the energy industry in 2026? With Rystad Energy Deputy CEO Lars Eirik NicolaisenShell’s Peter Wood on AI, future energy scenarios and trade turning points European power markets at a turning point, with Iben Frimann-Dahl and Francesca Bjørnflaten Let’s Talk Energy is a Rystad Energy Production. Produced by: Laura Rodriguez Skaug & Både Og. Executive producers: Noah Brenner, Elliot Busby, Evodie Fleury-Greaker & Erik Means. Follow us on: LinkedIn YouTube Instagram X