Oil and gas production in the UK is set to grow over future decades, as a report published Monday by the British Oil and Gas Authority (Oga) shows higher projections than previously released offered, Kallanish Energy learns.
Last year’s increase in both oil and gas production was 4%, or 1.7 million barrels of oil-equivalent per day (Mmboe/d). Oil production saw an 8.9% rise, or 1.09 Mmboe/d, the highest increase since 2011. Gas lowered the average with a 3.5% drop, to 0.61Mmboe/d.
However, a note released by analytics firm GlobalData earlier in March presented an optimistic future for UK gas production. In 2025, it will be the leading country in the North Sea region, producing 1.1 billion cubic feet per day (Bcf/d), as much as the other three countries in the area put together (Denmark, Norway, the Netherlands).
Oga attributed last year’s oil production increase to 30 new fields starting operations since 2015, as well as improved efficiency, the realization of enhanced oil recovery (EOR) projects coming online, and management of offshore licensing rounds.
The country is forecast to produce 3.9 billion barrels of oil-equivalent (Bboe) in the period 2016-2050, 200 Bboe more than the previous projection published last September. OGA described it as “the equivalent of gaining an additional four years of production (at the present rate) from the UK’s largest, currently producing oilfield.”
A significant portion of crude is projected to come from new fields and major projects in existing fields. The outcome depends on several factors, including the success of further exploration and the level of investment.
“New discoveries, such as Glendronach and Glengorm, highlight the future potential of the basin, which could be boosted further with new investment, exploration successes and resource progression. The OGA continually supports industry in efforts to revitaliz1e exploration, through area plans and promoting new technologies,” said Oga’s head of Performance, Planning and Reporting, Loraine Pace, in a statement.
