While production from the North Sea increased last year (2015), oil output is down by about 150% compared to 1995 according to new figures published by the US Energy Information Administration (see chart).
After many years of decline, production of petroleum and other liquids in the U ) increased by about 100,000 barrels per day (b/d) in 2015, with the largest contribution to this increase came from fields that were brought online in the second half of 2014.
Significant increases also came from fields that came online in 2015, and from improved performance of the UK’s largest producing field, the offshore Buzzard field.
A similar year-over-year increase in production volumes hasn’t occurred since 1998, when petroleum and other liquids production grew by slightly more than 100,000 b/d.
So just how will we get MER out of the North Sea?
The University of Aberdeen is partnering with Scottish Energy News in organising a keynote event to examine the challenges and issues linked to Maximising Economic Recovery from the UKCS.
The event will be a one-day conference, to be held in Kings Conference Centre on 14 April and followed on from an article published in the Scottish Energy News (see http://www.scottishenergynews.com/new-survey-shows-n-sea-oil-and-gas-firms-are-missing-opportunities-on-collaboration/) and the interest in, and reaction to, this piece.
The event will have excellent speakers, who include:
- Paul Goodfellow – VP UK and Ireland, Shell
- Gunther Newcombe – Director Exploration and Production, OGA
- Graeme Young – Partner CMS
- Derek Leith – Senior Partner, Aberdeen Ernst and Young
- John Pearson – Group President, Northern Europe & CIS AMEC-Foster Wheeler
- Greg Gordon – University of Aberdeen, School of Law
- Alex Kemp – University of Aberdeen, School of Economics
- Ian Phillips – CEO, Oil and Gas Innovation Centre
- Gordon Drummond – CEO NSRI
Presentations will range across topics from competition law, collaboration with peers, other companies and regulators, innovation and cost efficiencies.
The aim is to inform with new thinking on these issues and encourage meaningful discussion. The day will offer space for questions and discussion, including a panel discussion and networking.
John Scrimgeour, Executive Director, at the University’s Aberdeen Institute of Energy, said: “This is shaping up to be a stimulating and fascinating consideration of the many issues and challenges facing the sector at this time.
“We are confident that we have created the very first conference of this kind, where a range of speakers from academia and industry will debate the major legal, organisational and technical issues, many of which have not yet been discussed or debated in sufficient detail, and are not yet common knowledge. “
“The conference will offer delegates a significant opportunity to hear from key experts, network with fellow colleagues and get involved in the key areas of discussion”.
To find out more details on our speaker line up and the programme for the day, as well as to register, go to: http://www.abdn.ac.uk/events/mer-2016/
NB; All lawyers; this will be CPD-able as it deals with new legislation – the Collaboration Code under the new Energy Act; this is a first of a kind CPD conference