ACTIVITY SURVEY 2014
page 34
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
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
Production (Million boepd)
1.43
2013
Production
1.4-‐1.5
2014
Production
-‐0.17
Base Decline
0.05
Field
Re-‐Starts
0.13
Increased
Production
from 2013
Start-‐Ups
0.07
Production
from 2014
Start-‐Ups
Source: Oil & Gas UK
