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Potential rise in oil & gas production in UK waters

04 Aug 2015

Oil and Gas UK has released provisional figures that show oil and gas production in UK waters is set to rise for the first time in 15 years this year.

The figures showed production for the first six months of the year could be up 2.5% on the same period last year, with output reaching 40,000 barrels per day.

This increase can be attributed to the Golden Eagle Field which started production in November, as well as the increased efficiency from existing assets in the region.

Effort and investment in the industry is now reaping the rewards despite the downturn and drop in the price of oil. More than £30bn has been invested in the past few years – securing a second wind for the North Sea and new projects west of Shetland.