2006-07-16 20:28:19 · 4 answers · asked by Robert L 1 in Politics & Government ➔ Civic Participation
North sea oil exploration was financed by the oil companies and a consortium of banks and governments mainly us.uk.& norway the technical hardware was provided by the usa
2006-07-16 20:52:40 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The UK government sells off Blocks (permits for drilling and exploration in a specific area).
The people who buy these blocks, the operating companies, then get the opportunity to explore for oil by drilling into promising "plays" (geological/Geophysical models of the subsurface). If the Well hits an economic payzone then they can move in a production platform or FPSO to transport the oil to a refinery.
It's common for one operating company to prove a reservoir and then sell it on. Ultimately the Shareholders and the people who buy the oil pay for this entire process.
2006-07-19 01:28:01 · answer #2 · answered by INFOPOTAMUS 3 · 0⤊ 0⤋
The big oil companies like BP. They bought franchises to explore and exploit specific areas defined by the Government.
The Norwegian government did the same in their part of the North Sea.
2006-07-16 20:45:30 · answer #3 · answered by Paul R 1 · 0⤊ 0⤋
Uk government and the oil companies.
2006-07-18 10:29:20 · answer #4 · answered by deadly 4 · 0⤊ 0⤋