Oil & Gas UK Activity Survey 2016

ACTIVITY SURVEY 2016

5.3 Production In 2015, the UKCS produced 1.64 million boepd (598 million boe total), 9.7 per cent more than the 2014 production figure of 1.49 million boepd (545 million boe total). This represents the first annual production increase on the UKCS since the year 2000 and comprises an 11.2 per cent year-on-year rise in liquids production and a 7.7 per cent upturn in net gas production. This rise was driven by a combination of improved performance from existing assets, increased output from fields that came on-stream in late 2014, field restarts, and a small contribution from new field start-ups during 2015 (see section 4 under production in 2015).

Figure 27: Liquids and Gas Production

5.0

Liquids Gas

4.5

4.0

3.5

3.0

2.5

2.0

1.5

Production (Million boepd)

1.0

0.5

0.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Source: OGA, Oil & Gas UK

Production Outlook Oil & Gas UK expects the increase seen last year to continue into 2016, with a further production rise forecast of 2.3 per cent to 1.68 million boepd (611 million boe). This increase will only be delivered if reservoir decline rates within existing fields continue to be carefully managed and the anticipated new field start-ups this year materialise with minimal slippage.

page 38