British Oil, Gas Output Rose 4% Last Year

Monday, March 11, 2019

British oil and gas production rose 4 percent to 1.7 million barrels of oil equivalent per day in 2018 compared with the previous year, according to the Oil and Gas Authority, an industry regulator.

"The Oil and Gas Authority (OGA) now projects total cumulative UK hydrocarbon production from 2016 to 2050 to be 3.9 billion barrels of oil equivalent (boe) more than projected in March 2015," it said in a report on Monday.

The upswing last year was due to higher oil production, more than balancing out lower gas output.

"This increase can be attributed to over 30 new fields coming onstream since 2015, improved production efficiency and asset integrity, the realization of enhanced oil recovery projects and the UK’s offshore licensing rounds’ continued focus on associated exploration, appraisal and development commitments," the OGA said.

In the years ahead, the OGA forecasts production to fall steadily to around 1.3 million boed in 2024.


(Reporting by Shadia Nasralla; Editing by Mark Potter)

Categories: Offshore Energy Europe Production

Related Stories

ABL Gets Neptun Deep Job for OMV Petrom in Black Sea

DEME Scoops ‘Most Extensive’ Cabling Contract in Its History

Shearwater and Mondaic Enter Strategic Alliance to Optimize Seismic Surveys

Current News

Unique Group Celebrates 30 Years of Innovation

Talos Energy Makes Leadership Team Changes

SOVs – Analyzing Current, Future Demand Drivers

Equinor Cleared for Drilling Ops at Johan Castberg Field with Transocean Enabler Rig

Subscribe for OE Digital E‑News