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Production in 2015
Recent investment in both new and existing assets on the UKCS had a positive impact on production in 2015. After
successive years of slowing decline, production increased in 2015 for the first time in 15 years by an impressive
9.7 per cent. Latest published national statistics data suggest that 598 million barrels of oil equivalent (boe) were
produced on the UKCS last year, equivalent to 1.64 million boe per day (boepd). Liquids production grew by
11.2 per cent while net gas production (less producers’ own use offshore) increased by 7.7 per cent
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. The regional
distribution remained largely unchanged with the central North Sea (CNS) still the UKCS’ most productive area,
contributing around 60 per cent of total production.
Figure 8: Production Change from 2014 to 2015
30
0
350
400
450
500
550
600
Production (Million boe)
545
2014
Production
-22
Existing
Field
Decrease
28
2014 Start-Ups
2015
Start-Ups
Source: Oil & Gas UK
598
2015
Production
43
2014-2015
Restarts
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An improvement in production in 2015 had been anticipated as new fields were expected to come on-stream
over the year to supplement the hundreds of producing assets, many of which are now being carefully managed
through late-life. However, delivery from existing assets far exceeded expectations with production decline rates
from these fields slowing from 12 to four per cent.
Record capital investment and operational expenditure in recent years, as well as the work of the Production
Efficiency Task Force, appear to be the catalyst for the remarkable improvement in existing assets’ reliability
and integrity. There were fewer prolonged unplanned production outages recorded in 2015, while more detailed
planning and efficient execution of maintenance resulted in shorter planned shutdowns. Production efficiency
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on the UKCS is consequently rising, and is anticipated to be over 70 per cent in 2015 from 60 per cent in 2012.
As company cash flows were exposed to falling prices, this increased production revenue was crucial for many
companies in 2015.
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2015 production numbers are still provisional and may be subject to revisions later in the year.
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Production efficiency – the total annual production divided by the maximum production potential of all fields
on the UKCS.
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