Oil and gas production in the North Sea became viable due to the 1973 oil crisis. The Arab-Israeli conflict caused a serious disruption that led to skyrocketing prices. Energy security became an important issue, which supported the development of the North Sea’s energy resources. However, the industry has been in decline due to sustained lower prices in the past decade. The current crisis could be the final blow to an industry that was already struggling to survive. The North Sea enjoys several advantages that have made it an interesting investment destination. First, oil and gas fields are relatively close to consumers. The development of the region has created one of the most elaborate pipeline infrastructures in the world. Second, the industry enjoys exposure to highly

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