UKCS oil & gas production outlook

The UKCS has produced over 35 billion barrels of oil and gas since 1970. In 2005 nearly 650 million barrels of oil were produced which more than satisfied domestic demand over the year. 93% of gas demand was met by indigenous production of 85 billion cubic metres of gas; the remaining 7% was satisfied by withdrawals from storage and imports.

Figure 18: UK Oil & Gas Production 1970-2005

Security of energy supply is an important aspect of UK energy policy with oil and gas accounting for 73% of the total primary energy produced in 2005. The UK has been self-sufficient in oil for more than two decades and is expected to remain so until around 2010. In 2004, the UK became a net gas importer again after a decade of self-sufficiency, although it did satisfy 93% of demand in 2005, but this is projected to continue to rise. If the current rate of investment can be sustained, there are substantial new indigenous gas development opportunities which can continue to provide a significant contribution.

Figure 19: UK Combined Oil & Gas Production vs. Consumption 1970-2020