Oil and gas output forecast rises to 11.7bn barrels by 2050

Oil and gas production up to 2050 is now projected to total 11.7 billion barrels of oil equivalent (boe). That’s according to new projections from the Oil and Gas Authority (OGA), which show this figure is 2.8 billion boe higher than the production volume outlined in the Wood Review. In 2017 production sat at its […]

UK to check fracking firms’ finances before approval

The UK Government is considering financial checks of companies proposing to carry out fracking before giving the go ahead for those projects. Energy Secretary Greg Clark said the financial resilience of firms should be carried out so stakeholders have confidence in their ability to meet commitments. Third Energy has therefore not received consent yet to frack […]

UK’s petroleum ‘could last 20 more years’

The UK’s remaining petroleum reserves could last for at least 20 more years. That’s according to a new report from the Oil and Gas Authority (OGA), which suggests they could last even longer if additional undeveloped resources, ranging between 10 to 20 billion barrels of oil equivalent (boe), can be matured. To date, a total […]

UK offers £5m for North Sea oil and gas exploration

UK Chancellor Philip Hammond has announced a £5 million fund to support new oil and gas exploration in the North Sea. The funding will be used by the Oil and Gas Authority (OGA) to survey underexplored areas of the UK Continental Shelf (UKCS). The government believes its work with industry on new subsea technologies could […]

Large UKCS fields ‘could extract extra 900 million barrels of oil’

Hundreds of millions more barrels of oil could be extracted from the UK Continental Shelf (UKCS) from a selected number of large oil fields. That’s according to the Oil & Gas Authority (OGA), which suggests this can be done by increasing the recovery factor (RF), i.e. the overall proportion of oil expected to be extracted […]

OGA offers new oil and gas exploration blocks

The Oil and Gas Authority (OGA) has launched its 30th round of offshore licensing. The offering focuses on mature areas of the UK Continental Shelf (UKCS) and includes 813 blocks or part blocks, totalling an area of more than 28 million acres. Blocks are on offer in the Southern, Central and Northern North Sea, the […]

Third Energy submits UK fracking plans

Third Energy has submitted its final fracking plans for shale gas in North Yorkshire. The Hydraulic Fracture Plan (HFP) for the Kirby Misperton area will be considered by the Oil and Gas Authority (OGA) and the Environment Agency (EA). The HFP sets out how the company would control and monitor the process and is a […]

New strategy to recover North Sea’s tight gas

The Oil and Gas Authority (OGA) has published a new strategy to maximise the recovery of tight gas from the Southern North Sea (SNS). The organisation estimates there are roughly 3.8 trillion cubic feet of accessible tight gas remaining in the region. This is natural gas trapped in low permeability reservoirs where conventional drilling is […]

UK oil and gas production efficiency rises to 73%

Production efficiency on the UK Continental Shelf (UKCS) has risen for the fourth consecutive year to 73%. That represents an additional production of 12 million barrels of oil equivalent (boe), according to the Oil and Gas Authority (OGA). Its new report reveals recent years have seen the UKCS reverse the declining trend in both production […]

OGA awards 25 licences for oil and gas exploration

A total of 25 licences have been awarded to enable further oil and gas exploration and production on the UK Continental Shelf (UKCS). It is part of the Oil and Gas Authority’s (OGA) 29th Licensing Round – the first in two decades focusing solely on frontier, underexplored areas of the Rockall Basin, Mid-North Sea High […]