More production from the UKCSPicture@OGA

More production from the UKCS

Oil and gas production in the UK increased by more than 4% in 2018, averaging 1.7 million boe per day, according to a new report from the Oil and Gas Authority.

The “Projections of UK Oil and Gas Production and Expenditure Report” published by the OGA, expects that UK oil and gas production over the period 2016–2050 is reaching 3.9 billion barrels of oil equivalent (boe) higher than projections four years ago (in March 2015).

Cumulative production from 2016 to 2050 is estimated to be 3.9 billion boe higher than projected in March 2015. This is an increase of 200 million boe from the previous production projection published in September 2018 and is the equivalent of gaining an additional four years of production (at the present rate) from the UK’s largest currently producing oil field. (Figure OGA)

In 2018, oil production rose to 1.09 million barrels per day, which is 8.9% more than in 2017 and the highest UK oil production rate since 2011. Gas production fell by 3.5% to 0.61 million boe per day.

Oil and gas production from the UK North Sea (Figure OGA)

This increase in oil production can be attributed to over 30 new fields coming onstream since 2015 but also to improved production efficiency and asset integrity, the realisation of enhanced oil recovery (EOR) projects and the UK’s offshore licensing rounds’ continued focus on associated exploration, appraisal and development commitments states the OGA.