ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom

29/10/18
There could still be considerable oil and gas reserves on the UK Continental Shelf (UKCS) a new study has suggested.

Researchers at Aberdeen University estimate that a further 17 billion barrels of oil and gas could be recovered from the area, bringing up to £330 billion in investment, Herald Scotland reported.

The aim of the study was to determine whether it was realistic for the the Oil and Gas Authority to expect that a further 14.9 billion barrels of the fuels could be recovered from the UKCS by 2025.

Authors of the study professor Alex Kemp and Linda Stephen commented that the remaining potential of the UKCS is “very substantial”. They also described the ambitious targets set by the regulator in its Vision 2035 plan as achievable.

By their estimation, a further 529 fields could be developed on the UKCS in the coming 30 years, which could deliver 17 billion barrels of oil equivalent reserves.

However, they noted that there are some conditions to this being achieved. “Important caveats are that the benefits of the painfully achieved cost reductions and the productivity gains from enhanced production efficiency have to be maintained,” the report stated.

Earlier this month, Shell announced that it would be investing in the Arran field and furthering its development there.

The Oil and Gas Authority’s chief executive Dr Andy Samuel praised the company and its partners for “showing real adaptability and tenacity to drive this project forward to what is Shell’s fourth field development approval this year”.

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