Activity Survey 2014

ACTIVITY SURVEY 2014

Production Outlook

The upshot of improved performance from the existing asset base in quarter four 2013 coupled with new large field start-ups has put the UKCS in a much better position than it has been for six years. Production is expected to begin to pick up in 2014. Operators are also more positive about their asset performance. More than 80 per cent of operators predict production will improve in 2014, whereas last year, more than 50 per cent predicted production would fall.

Figure 25: Production from 2013 to 2014

1.6

0.07

1.4

0.13

Production from 2014 Start-­‐Ups

-­‐0.17

0.05

Increased Production from 2013 Start-­‐Ups

1.2

Base Decline

Field Re-­‐Starts

1.0

1.4-­‐1.5

1.43

0.8

2014 Production

2013 Production

0.6

0.4

Production (Million boepd)

0.2

0.0

Source: Oil & Gas UK

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