Exploration Insight 2022 - OEUK

2. Explorat ion oppor tuni t ies

Key enablers & constraints The table below ( Figure 13 ) outlines the key enablers and constraints to future potential exploration within the UKCS. The shading red (constraint) to green (enabler) provides subjective considerations respectively. The table is reflective of the significant enablers that remain in the UKCS and serves to illustrate the continued opportunities for future exploration. These enablers and constraints are dynamic and will vary by operator but are intended to be indicative of the overall basin.

Exploration activity levels and future impact on resources Between 2011 and 2020, 136 exploration wells were drilled on the UKCS. In total these wells discovered a total of 600mn boe, comprising 30 individual discoveries. Looking to the future, together with OEUK, Westwood has identified 31 exploration opportunities as potential future wells, the majority of which are ILX (infrastructure led exploration). These wells could target up to 1.87bn boe reserves, the equivalent to roughly two years of pre-pandemic UK

Figure 13: Enablers and constraints Source: OEUK

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EXPLORATION INSIGHT 2022