Economic Report 2016 - Oil & Gas UK

Figure 12: Rate of Discovery versus Rate of Production

1

60

Cumulative Recoverable Reserves Discovered

2

Cumulative Production

50

40

3

30

Billion boe

4

20

10

5

0

1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015

6

Source: Wood Mackenzie

7

Figure 13: Reserve and Resource Potential

25

Yet-To-Find Resources Potential Additional Resources Reserves Produced (2015)

8

20

6

9

15

5

10

10

2

2

5

Reserves/Resources (Billion boe)

9

6

11

0

Low Outcome

High Outcome

-5

Source: OGA, Oil & Gas UK

25