Three billion barrels of oil remain in UKCS

More than three billion barrels of oil equivalent (boe) remain in the UK Continental Shelf (UKCS). They are located in around 350 unsanctioned discoveries, according to the Oil & Gas […]

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By Jacqueline Echevarria

More than three billion barrels of oil equivalent (boe) remain in the UK Continental Shelf (UKCS).

They are located in around 350 unsanctioned discoveries, according to the Oil & Gas Authority (OGA).

It states the majority are small pools defined as less than 50 million boe, technically recoverable and located within potential tieback and extended reach drilling distance to existing infrastructure.

However, a number of these small pools lie further away from existing infrastructure and therefore could require stand-alone type solutions to recover hydrocarbons, OGA adds.

The data was gathered by OGA as part of the Technology Leadership Board’s (TLB) Small Pools Work Group.

Carlo Procaccini, OGA Head of Technology said: “We recognise the challenges operators are facing to develop these marginal oil and gas accumulations. Small pools represent a very significant opportunity to maximise economic recovery from the UKCS.”

Earlier this year, OGA awarded more than £200,000 to boost further interest in offshore exploration activity in the UK Continental Shelf.

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