Caspian Energy Journal Caspian European Club
Tuesday, 12 March 2019 13:00

UK oil, gas, liquids output up 4%

UK oil, gas, liquids output up 4%

Production of oil, natural gas, and natural gas liquids increased in the UK by 4% in 2018 to an average of 1.7 million boe/d, according to the UK Oil and Gas Authority (OGA), Caspian Energy News ( reports with reference to Oil & Gas Journal.

Oil production alone increased 8.9% from 2017 to 1.09 million b/d, the UK’s highest rate since 2011.

Gas production fell by 2.5% to 610,000 boe/d.

In an update of a March 2015 estimate, OGA projected cumulative oil, gas, and gas liquids production during 2016-50 of 11.9 billion boe, up 3.9 billion bbl from the earlier assessment.

OGA said total oil and gas operating costs rose by 6.4% last year to £7.2 billion. Unit operating costs rose by 2.2% to £11.6/boe. Capital expenditure on UK oil and gas fell for the fourth straight year. OGA projects a 4% increase this year. Decommissioning outlays jumped 9% in 2018 to £1.45 billion.

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Person in charge of the newsline: Olga Nagiyeva 

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