UK continental shelf gas reserves estimated to be 1.7bn boe

The Oil and Gas Authority (OGA) has released its UK Oil and Gas: Reserves and Resources report, which showed that the UK’s proven and possible reserves of gas in the continental shelf are estimated to be 1.7bn boe. The report, released on 8 November, estimated that the total figure for oil and gas could be 5.4bn boe, which the OGA said “could sustain production for the next 20 years and beyond”. However, the OGA warned that significant investment would be required to realise the potential.

Source: Oil & Gas Authority

The SNP’s Maureen Watt, who co-convenes the Holyrood Cross-Party Group on Oil and Gas, said in light of this, it was “absolutely astounding – with drilling activity this year at a 40-year low – that there was nothing in last week’s Budget to support new exploration and development.”

Oil & Gas Authority

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