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UK oil and gas production is expected to increase to 11.7 billion barrels of oil equivalent by 2050

 Last Update: 2022-12-26
 Source: Internet
 Author: User

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Currently, UK oil and gas production is expected to reach 11.
7 billion barrels of
oil equivalent by 2050.

UK oil and gas production is expected to increase to 11.
7 billion barrels of oil equivalent by 2050

According to a new forecast from the U.
K.
Oil and Gas Authority (OGA), this figure is 2.
8 billion barrels
higher than the output estimated in the Wood Review report.

Despite Fortis' closure of the pipeline last December, 2017 production was still the highest since 2011, at about 1.
6 million barrels of
oil equivalent.

During 2017, operating costs of oil and gas facilities in UK waters rose by 3%, but capital expenditures fell
significantly.
Facility decommissioning costs increased by 4% during the year and are expected to remain near
current levels in the short to medium term.

Andy Samuel, CEO of OGA, said: "The taller 2.
8 billion barrels shows future mining potential and is expected to be further enhanced
through investment and successful exploration.
”

2017 continues to be a productive year
.
UK oil and gas production levels will continue to rise
in 2018 as more new fields come online.

，

Currently, UK oil and gas production is expected to reach 11.
7 billion barrels of
oil equivalent by 2050.

Oil and gas production

UK oil and gas production is expected to increase to 11.
7 billion barrels of oil equivalent by 2050

According to a new forecast from the U.
K.
Oil and Gas Authority (OGA), this figure is 2.
8 billion barrels
higher than the output estimated in the Wood Review report.

Despite Fortis' closure of the pipeline last December, 2017 production was still the highest since 2011, at about 1.
6 million barrels of
oil equivalent.

Andy Samuel, CEO of OGA, said: "The taller 2.
8 billion barrels shows future mining potential and is expected to be further enhanced
through investment and successful exploration.
”

2017 continues to be a productive year
.
UK oil and gas production levels will continue to rise
in 2018 as more new fields come online.

，

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