The UK North Sea: Prolonging the economic life

摘要

After more than 30 years, the UK continental shelf remains a world-class petroleum province. Oil and gas production in 2003 exceeded 4 MMboe/d, while investment totaled over ?8 billion. With over 270 oil and gas fields currently active, remaining reserves are estimated to be up to 31 Bbb1, about as much again as has been produced to date. Opportunities for new development exist in the brown fields, in undeveloped discoveries, and from fresh exploration. The North Sea's continued attraction for investors is assured by its extensive offshore infrastructure, its political stability, . and its skilled workforce and long-established, highly professional contractor base. But the North Sea is changing. Advancing maturity is ushering in a new phase in the life of the UK continental shelf. Of the estimated remaining 31 Bboe, development plans are in place for only 14 Bboe. To unlock the full potential of the 17 Bboe "incremental reserves," the industry will have to overcome tough economic, commercial, and technical barriers.