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New oil and gas output figures responsible for peak in energy production

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Oilfield Technology,

Improved energy production figures in Britain are being attributed to substantial increase in offshore oil and gas production during Q3 2015, according to Oil and Gas UK.

These hydrocarbon production statistics are most welcome amidst Chancellor George Osbourne’s grave warnings of a 94% decline in oil and gas revenues during the latter half of this year.

UK Government energy statistics demonstrate that oil production from the UK continental shelf (UKCS) went up 32% and gas was up 10%, helping overall energy production to a year-on-year increase of 14.2% during the three months, according to UK Government energy statistics published yesterday.

Oonagh Werngren, Oil and Gas UK’s operations director, said: “The increase in UK oil and gas production over the last quarter is very welcome.

“It is a further sign that this year, we are on track to see the first annual rise in production on the UKCS for 15 years, currently expected to be 8-10%. “This rise, and the substantial increase in production in Q3 2015 relative to same period in 2014, is the result of strong investment by operators to make improvements on existing assets together with the start-up of some sizeable new fields in 2015.”

Edited from various sources by Louise Mulhall

Sources:Energy Voice

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