North Sea output rises despite oil and gas price slump
ByGraham Huband
BP's ETAP oil platform in the North Sea
North Sea oil and gas production rose in 2015 despite a collapse in the global crude price.
Industry body Oil and Gas UK said its analysis of production figures had led it to expect a circa 7% increase in output for the full year once all the data was in and collated.
If the uplift is confirmed it will represent the first rise in production from the UK Continental Shelf in 15 years.
The boost will also have come in a year when the oil price plunged to a multi-year low below $40 and whilst operators have been cutting jobs and putting a stay on future development field plans.
Oil & Gas UK chief executive Deirdre Michie said the uplift was welcome but warned it was unlikely to be sustained in 2016.
For more, see Tuesday’s Courier.
North Sea output rises despite oil and gas price slump
