uk continental shelf oil and gas reserves and production
TRANSCRIPT
UK Continental Shelf
Oil and Gas Production and
the UK Economy
Mike Earp
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0 100 200 300 400 500 600 700 800 900 1000
Russian Federation
USA
Saudi Arabia
Canada
Iran
China
Mexico
Norway
United Arab Emirates
Algeria
Venezuela
Nigeria
United Kingdom
Kuwait
Indonesia
Production in million tonnes (of oil equivalent)
Oil Gas
Major Oil and Gas Producing Countries 2007
The UK was ranked 13th overall, 18th in oil and 8th in gas
0.0
0.5
1.0
1.5
2.0
2.5
3.0
1970 1974 1978 1982 1986 1990 1994 1998 2002 2006
Mill
ion b
oepd
UK Oil Production
UK Oil Consumption
Source: DTI / Oil & Gas UK
UK Oil Production and Consumption
-250
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
3,000
3,250
3,500
3,750
4,000
4,250
4,500
-250
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
3,000
3,250
3,500
3,750
4,000
4,250
4,500
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
millio
n t
on
ne
sUK Continental Shelf Oil Reserves and Production
Possible Reserves at end of year
Remaining Proven plus Probable Reserves at end of year
Cumulative production to end of year
Change in Ultimate Recovery during year
Production in year
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
UK Oil Production by field start-up date (thousand tonnes)
2007 2006
2005 2004
2003 2002
2001 2000
1999 1998
1997 1996
1995 1994
1993 1992
1991 1990
1989 1988
1987 1986
1985 1984
1983 1982
1981 1980
1979 1978
1977 1976
1975
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
19
75
19
76
19
77
19
78
19
79
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
UK Oil Production by field (thousand tonnes)
WOOD TWEEDSMUIR SAXON NICOL ENOCH DUART
DONAN {MAERSK} BUZZARD BRENDA BLANE MERGANSER GOOSANDER
GLENELG RHUM PICT GADWALL FARRAGON CLAIR
CARNOUSTIE BRECHIN SCOTER PLAYFAIR JAMES HOWE
GOLDENEYE CLAPHAM BROOM NETHAN SYCAMORE SEYMOUR
PENGUIN WEST PENGUIN EAST CALEDONIA BRAEMAR DOUGLAS WEST ARDMORE
EWT ONSHORE TULLICH OTTER MIRREN MADOES MACLURE
JADE HAWKINS HANNAY HALLEY SKUA SKENE
KYLE KESTREL FRANKLIN ELGIN BLAKE BEAULY
LEADON SHEARWATER KEITH GUILLEMOT W GUILLEMOT NW COOK
COLUMBA BD BITTERN RUBIE ROSS RENEE PIERCE
ORION JANICE HERON GANNET G EGRET BUCKLAND
NEWTON ON TRENT STORRINGTON SCHIEHALLION MUNGO MONAN MARNOCK
MALLARD LOYAL LARCH KEDDINGTON GRANT GANNET E
GALLEY FLORA COLUMBA E COLD HANWORTH BROCKHAM BRITANNIA
FISKERTON AIRFIELD WEST BRAE TEAL MERLIN MACCULLOCH KINGFISHER
IONA GOODWORTH GANNET F FOINAVEN FLEMING ERSKINE
DRAKE CURLEW CAPTAIN SEDGWICK EWT OFFSHORE BLADON
DURWARD DAUNTLESS THELMA TELFORD TEAL SOUTH STRATHSPEY
SOUTH MAGNUS SCAMPTON PELICAN NEVIS LENNOX HARDING
GUILLEMOT A FERGUS DUNLIN SOUTH WEST DOUGLAS BANFF ARKWRIGHT
ANDREW BRIMMOND COLUMBA B MINING LICENCES JUDY JOANNE
FIFE BIRCH COLUMBA D BLENHEIM DONAN STIRLING
NELSON MEDWIN MACHAR LYELL ELLON DUNBAR
ALBA TONI TIFFANY SCOTT SALTIRE LOMOND
LEVEN HUDSON GRYPHON GANNET A EVEREST EAST GLENTWORTH
CHANTER BRUCE BRAE EAST MILLER GANNET D GANNET C
GANNET B BEINN EMERALD STAFFA WEST FIRSBY SINGLETON
REMPSTONE OSPREY LONG CLAWSON WAREHAM ANGUS KIRKLINGTON
STOCKBRIDGE PALMERS WOOD KITTIWAKE CYRUS ARBROATH HAMISH
WHISBY MOIRA BLAIR TERN SCAMPTON NORTH ROB ROY
IVANHOE GLAMIS BRAE CENTRAL DON LINNHE CRAWFORD
HORNDEAN HERRIARD EIDER BRAE NORTH WEST BECKINGHAM STAINTON
NESS CROSBY WARREN CLYDE ALWYN NORTH PETRONELLA BALMORAL
NETTLEHAM HUMBLY GROVE HIGHLANDER FARLEYS WOOD INNES WELTON
SCAPA DEVERON HUTTON MAGNUS BRAE SOUTH HUTTON NORTH WEST
MAUREEN DUNCAN FULMAR CORMORANT NORTH TARTAN BUCHAN
BEATRICE MURCHISON WYTCH FARM STATFJORD CORMORANT SOUTH THISTLE
NINIAN HEATHER {AND EXT} DUNLIN CLAYMORE PIPER MONTROSE
BRENT BERYL FORTIES AUK ARGYLL
-10
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
-10
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
19
75
19
76
19
77
19
78
19
79
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
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88
19
89
19
90
19
91
19
92
19
93
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94
19
95
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96
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97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
Number of UK Oil Fields in Production
Ceased Production
Start-ups
Number of fields in production
New Entrants’ Contribution to Production & Investment 1999–2006
Buyers of UKCS Assets 1995–2006
0
10
20
30
40
50
60
70
80
90
100
110
1970 1974 1978 1982 1986 1990 1994 1998 2002 2006
Bill
ion c
ubic
metr
es
UK Gas Production
UK Gas consumption
Source: DTI / Oil & Gas UK / National Grid
UK Gas Production and Consumption
-250
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
3,000
3,250
3,500
-250
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
3,000
3,250
3,5001
98
0
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
bc
mUK Continental Shelf Gas Reserves and Production
Possible Reserves at end of year
Remaining Proven plus Probable Reserves at end of year
Cumulative production to end of year
Change in Ultimate Recovery during year
Net Production in year
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0
1
2
3
4
5
6
7
8
9
10
11
12
131
97
01
97
11
97
21
97
31
97
41
97
51
97
61
97
71
97
81
97
91
98
01
98
11
98
21
98
31
98
41
98
51
98
61
98
71
98
81
98
91
99
01
99
11
99
21
99
31
99
41
99
51
99
61
99
71
99
81
99
92
00
02
00
12
00
22
00
32
00
42
00
52
00
62
00
7
£ b
illi
on
UKCS Capital Expenditure 1970–2007 (2007 prices)
Exploration & Appraisal Expenditure (£53 billion)
Development Capital Expenditure (£210 billion)
Industry Investment 2005 by Sector
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
161
97
01
97
11
97
21
97
31
97
41
97
51
97
61
97
71
97
81
97
91
98
01
98
11
98
21
98
31
98
41
98
51
98
61
98
71
98
81
98
91
99
01
99
11
99
21
99
31
99
41
99
51
99
61
99
71
99
81
99
92
00
02
00
12
00
22
00
32
00
42
00
52
00
62
00
7
£ b
illi
on
UKCS Expenditure 1970–2007 (2007 prices)
Exploration & Appraisal Expenditure (£53 billion)
Development Capital Expenditure (£210 billion)
Operating Expenditure (£141 billion)
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0
5
10
15
20
25
30
35
40
0
50
100
150
200
250
300
350
4001
97
6
19
77
19
78
19
79
19
80
19
81
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82
19
83
19
84
19
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19
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90
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92
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98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
p/th
erm
(20
07
pric
es
)£/t
on
ne
(2
00
7 p
ric
es
)
Average Oil and Gas Prices received by UKCS Producers
Oil Gas
0
5
10
15
20
25
30
35
40
45
50
0
5
10
15
20
25
30
35
40
45
501
97
01
97
11
97
21
97
31
97
41
97
51
97
61
97
71
97
81
97
91
98
01
98
11
98
21
98
31
98
41
98
51
98
61
98
71
98
81
98
91
99
01
99
11
99
21
99
31
99
41
99
51
99
61
99
71
99
81
99
92
00
02
00
12
00
22
00
32
00
42
00
52
00
62
00
7
£ b
illi
on
UKCS Income and Expenditure 1970–2007 (2007 prices)
Exploration & Appraisal Expenditure (£53 billion)
Development Capital Expenditure (£210 billion)
Operating Expenditure (£141 billion)
Income (£829 billion)
-1
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
271
97
6/7
7
19
77
/78
19
78
/79
19
79
/80
19
80
/81
19
81
/82
19
82
/83
19
83
/84
19
84
/85
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85
/86
19
86
/87
19
87
/88
19
88
/89
19
89
/90
19
90
/91
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91
/92
19
92
/93
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93
/94
19
94
/95
19
95
/96
19
96
/97
19
97
/98
19
98
/99
19
99
/00
20
00
/01
20
01
/02
20
02
/03
20
03
/04
20
04
/05
20
05
/06
20
06
/07
20
07
/08
20
08
/09
Government revenues from UK oil and gas production (£ billion, 2006/07 prices)
Petroleum Revenue Tax Supplementary Petroleum Duty Corporation Tax Supplementary Charge Royalty Licence Fees
0
5
10
15
20
25
30
35
40
45
50
0
5
10
15
20
25
30
35
40
45
501
97
01
97
11
97
21
97
31
97
41
97
51
97
61
97
71
97
81
97
91
98
01
98
11
98
21
98
31
98
41
98
51
98
61
98
71
98
81
98
91
99
01
99
11
99
21
99
31
99
41
99
51
99
61
99
71
99
81
99
92
00
02
00
12
00
22
00
32
00
42
00
52
00
62
00
7
£ b
illi
on
UKCS Income and Expenditure 1970–2007 (2007 prices)
Exploration & Appraisal Expenditure (£53 billion)
Development Capital Expenditure (£210 billion)
Operating Expenditure (£141 billion)
Post-Tax Income (£586 billion)
Government Take (£242 billion) -on top of Post-Tax Income
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%1
97
0
19
71
19
72
19
73
19
74
19
75
19
76
19
77
19
78
19
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97
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98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
Direct contribution of the Upstream Oil & Gas sector to UK GVA
UK Gross Value Added 2005 by Sector
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0
3
6
9
12
15
18
21
24
27
30
33
36
39
42
45
48
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
161
98
0
19
81
19
82
19
83
19
84
19
85
19
86
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87
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20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
tho
us
an
ds
£ b
illi
on
(2
00
7 p
ric
es
)UKCS Expenditure and Oil and Gas Extraction Employment
Exploration & Appraisal Expenditure
Development Capital Expenditure
Operating Expenditure
Direct Employment
Employment In and Supported by UK E&P Activity
UK Oil and Gas Industry Employment 1991–2007 (excluding export activity)
UK Oil and Gas Industry Employment by Region 2004
UK Oil and Gas Supply Chain Employment by Sector 2004
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
UK Balance of Trade: Crude Oil, Oil Products and Natural Gas 1995–2006
-20
-10
0
10
20
30
40
50
60
70
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
mto
eNet UK Exports of Oil & Gas
Oil Natural Gas Oil & Gas
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
1998 1999 2000 2001 2002 2003 2004 2005 2006
£ b
illi
on
(2
00
7 p
ric
es
)Value (Cost) of UK Oil & Gas Exports (Imports)
Oil Natural Gas Oil & Gas
Destination of UK crude oil production and sources of UK supply, 2006
(1) Of which: Canada 3.6%, Italy 1.8% and Finland 1.1%.
UKCS disposals of crude oil 2006
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150Ja
nu
ary
199
8
Ap
ril 1
99
8
Ju
ly 1
99
8
Octo
be
r 1
99
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Ja
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ary
199
9
Ap
ril 1
99
9
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ly 1
99
9
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r 1
99
9
Ja
nu
ary
200
0
Ap
ril 2
00
0
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ly 2
00
0
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be
r 2
00
0
Ja
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ary
200
1
Ap
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00
1
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00
1
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1
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200
2
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2
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2
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2
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200
3
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3
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ly 2
00
3
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be
r 2
00
3
Ja
nu
ary
200
4
Ap
ril 2
00
4
Ju
ly 2
00
4
Octo
be
r 2
00
4
Ja
nu
ary
200
5
Ap
ril 2
00
5
Ju
ly 2
00
5
Octo
be
r 2
00
5
Ja
nu
ary
200
6
Ap
ril 2
00
6
Ju
ly 2
00
6
Octo
be
r 2
00
6
Ja
nu
ary
200
7
Ap
ril 2
00
7
Ju
ly 2
00
7
Octo
be
r 2
00
7
Ja
nu
ary
200
8
millio
n to
nn
es
p.a
.
UK Oil (including NGL) Production
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150Ja
nu
ary
199
8
Ap
ril 1
99
8
Ju
ly 1
99
8
Octo
be
r 1
99
8
Ja
nu
ary
199
9
Ap
ril 1
99
9
Ju
ly 1
99
9
Octo
be
r 1
99
9
Ja
nu
ary
200
0
Ap
ril 2
00
0
Ju
ly 2
00
0
Octo
be
r 2
00
0
Ja
nu
ary
200
1
Ap
ril 2
00
1
Ju
ly 2
00
1
Octo
be
r 2
00
1
Ja
nu
ary
200
2
Ap
ril 2
00
2
Ju
ly 2
00
2
Octo
be
r 2
00
2
Ja
nu
ary
200
3
Ap
ril 2
00
3
Ju
ly 2
00
3
Octo
be
r 2
00
3
Ja
nu
ary
200
4
Ap
ril 2
00
4
Ju
ly 2
00
4
Octo
be
r 2
00
4
Ja
nu
ary
200
5
Ap
ril 2
00
5
Ju
ly 2
00
5
Octo
be
r 2
00
5
Ja
nu
ary
200
6
Ap
ril 2
00
6
Ju
ly 2
00
6
Octo
be
r 2
00
6
Ja
nu
ary
200
7
Ap
ril 2
00
7
Ju
ly 2
00
7
Octo
be
r 2
00
7
Ja
nu
ary
200
8
millio
n to
nn
es
p.a
.
UK Oil (including NGL) Production
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%
26%
28%
30%
32%
34%
36%
38%
40%
42%
44%
46%
48%
0
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
95
100
105
110
115
120
125
130
135
140
145
150
155January
1998
April 1
998
July
1998
Octo
ber 1998
January
1999
April 1
999
July
1999
Octo
ber 1999
January
2000
April 2
000
July
2000
Octo
ber 2000
January
2001
April 2
001
July
2001
Octo
ber 2001
January
2002
April 2
002
July
2002
Octo
ber 2002
January
2003
April 2
003
July
2003
Octo
ber 2003
January
2004
April 2
004
July
2004
Octo
ber 2004
January
2005
April 2
005
July
2005
Octo
ber 2005
January
2006
April 2
006
July
2006
Octo
ber 2006
January
2007
April 2
007
July
2007
Octo
ber 2007
January
2008
millio
n to
nn
es p
a
UKCS Oil Production
Current month (annual equivalent)
12 months to date
% change (12 months to date vs previous year)
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140Ja
nu
ary
199
8
Ap
ril 1
99
8
Ju
ly 1
99
8
Octo
be
r 1
99
8
Ja
nu
ary
199
9
Ap
ril 1
99
9
Ju
ly 1
99
9
Octo
be
r 1
99
9
Ja
nu
ary
200
0
Ap
ril 2
00
0
Ju
ly 2
00
0
Octo
be
r 2
00
0
Ja
nu
ary
200
1
Ap
ril 2
00
1
Ju
ly 2
00
1
Octo
be
r 2
00
1
Ja
nu
ary
200
2
Ap
ril 2
00
2
Ju
ly 2
00
2
Octo
be
r 2
00
2
Ja
nu
ary
200
3
Ap
ril 2
00
3
Ju
ly 2
00
3
Octo
be
r 2
00
3
Ja
nu
ary
200
4
Ap
ril 2
00
4
Ju
ly 2
00
4
Octo
be
r 2
00
4
Ja
nu
ary
200
5
Ap
ril 2
00
5
Ju
ly 2
00
5
Octo
be
r 2
00
5
Ja
nu
ary
200
6
Ap
ril 2
00
6
Ju
ly 2
00
6
Octo
be
r 2
00
6
Ja
nu
ary
200
7
Ap
ril 2
00
7
Ju
ly 2
00
7
Octo
be
r 2
00
7
Ja
nu
ary
200
8
bc
m p
.a.
UK Net Gas Production
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140Ja
nu
ary
199
8
Ap
ril 1
99
8
Ju
ly 1
99
8
Octo
be
r 1
99
8
Ja
nu
ary
199
9
Ap
ril 1
99
9
Ju
ly 1
99
9
Octo
be
r 1
99
9
Ja
nu
ary
200
0
Ap
ril 2
00
0
Ju
ly 2
00
0
Octo
be
r 2
00
0
Ja
nu
ary
200
1
Ap
ril 2
00
1
Ju
ly 2
00
1
Octo
be
r 2
00
1
Ja
nu
ary
200
2
Ap
ril 2
00
2
Ju
ly 2
00
2
Octo
be
r 2
00
2
Ja
nu
ary
200
3
Ap
ril 2
00
3
Ju
ly 2
00
3
Octo
be
r 2
00
3
Ja
nu
ary
200
4
Ap
ril 2
00
4
Ju
ly 2
00
4
Octo
be
r 2
00
4
Ja
nu
ary
200
5
Ap
ril 2
00
5
Ju
ly 2
00
5
Octo
be
r 2
00
5
Ja
nu
ary
200
6
Ap
ril 2
00
6
Ju
ly 2
00
6
Octo
be
r 2
00
6
Ja
nu
ary
200
7
Ap
ril 2
00
7
Ju
ly 2
00
7
Octo
be
r 2
00
7
Ja
nu
ary
200
8
bc
m p
.a.
UK Net Gas Production
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%
26%
28%
30%
32%
34%
36%
38%
40%
42%
44%
46%
48%
0
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
95
100
105
110
115
120
125
130
135
140
145
150
155January
1998
April 1
998
July
1998
Octo
ber 1998
January
1999
April 1
999
July
1999
Octo
ber 1999
January
2000
April 2
000
July
2000
Octo
ber 2000
January
2001
April 2
001
July
2001
Octo
ber 2001
January
2002
April 2
002
July
2002
Octo
ber 2002
January
2003
April 2
003
July
2003
Octo
ber 2003
January
2004
April 2
004
July
2004
Octo
ber 2004
January
2005
April 2
005
July
2005
Octo
ber 2005
January
2006
April 2
006
July
2006
Octo
ber 2006
January
2007
April 2
007
July
2007
Octo
ber 2007
January
2008
bcm
pa
UKCS Gas Production
Current month (annual equivalent)
12 months to date
% change (12 months to date vs previous year)
0
25
50
75
100
125
150
175
200
225
250
275
300
325
350
375
400
0
25
50
75
100
125
150
175
200
225
250
275
300
325
350
375
400J
an
19
96
Ju
l 19
96
Ja
n 1
99
7
Ju
l 19
97
Ja
n 1
99
8
Ju
l 19
98
Ja
n 1
99
9
Ju
l 19
99
Ja
n 2
00
0
Ju
l 20
00
Ja
n 2
00
1
Ju
l 20
01
Ja
n 2
00
2
Ju
l 20
02
Ja
n 2
00
3
Ju
l 20
03
Ja
n 2
00
4
Ju
l 20
04
Ja
n 2
00
5
Ju
l 20
05
Ja
n 2
00
6
Ju
l 20
06
Ja
n 2
00
7
Ju
l 20
07
Ja
n 2
00
8
mc
m/d
ay
UK Monthly Gas Supply and Demand
Storage Injections
Net Exports except to Ireland and direct to The Netherlands & Norway
Storage Withdrawals
Net Imports
Indigenous Net Gas Supply
UK & net Irish Demand
0
50
100
150
200
250
300
350
400Ja
nu
ary
199
6
Ma
y 1
99
6
Se
pte
mb
er 1
99
6
Ja
nu
ary
199
7
Ma
y 1
99
7
Se
pte
mb
er 1
99
7
Ja
nu
ary
199
8
Ma
y 1
99
8
Se
pte
mb
er 1
99
8
Ja
nu
ary
199
9
Ma
y 1
99
9
Se
pte
mb
er 1
99
9
Ja
nu
ary
200
0
Ma
y 2
00
0
Se
pte
mb
er 2
00
0
Ja
nu
ary
200
1
Ma
y 2
00
1
Se
pte
mb
er 2
00
1
Ja
nu
ary
200
2
Ma
y 2
00
2
Se
pte
mb
er 2
00
2
Ja
nu
ary
200
3
Ma
y 2
00
3
Se
pte
mb
er 2
00
3
Ja
nu
ary
200
4
Ma
y 2
00
4
Se
pte
mb
er 2
00
4
Ja
nu
ary
200
5
Ma
y 2
00
5
Se
pte
mb
er 2
00
5
Ja
nu
ary
200
6
Ma
y 2
00
6
Se
pte
mb
er 2
00
6
Ja
nu
ary
200
7
Ma
y 2
00
7
Se
pte
mb
er 2
00
7
Ja
nu
ary
200
8
mc
m/d
ay
UK Monthly Gas Supply
Net downstrean stock withdrawals
Imports of LNG
Imports via BBL
Net imports via IUK
Direct imports from Norway
Net UK production excluding direct exports
0
50
100
150
200
250
300
350
400Ja
nu
ary
199
6
Ma
y 1
99
6
Se
pte
mb
er 1
99
6
Ja
nu
ary
199
7
Ma
y 1
99
7
Se
pte
mb
er 1
99
7
Ja
nu
ary
199
8
Ma
y 1
99
8
Se
pte
mb
er 1
99
8
Ja
nu
ary
199
9
Ma
y 1
99
9
Se
pte
mb
er 1
99
9
Ja
nu
ary
200
0
Ma
y 2
00
0
Se
pte
mb
er 2
00
0
Ja
nu
ary
200
1
Ma
y 2
00
1
Se
pte
mb
er 2
00
1
Ja
nu
ary
200
2
Ma
y 2
00
2
Se
pte
mb
er 2
00
2
Ja
nu
ary
200
3
Ma
y 2
00
3
Se
pte
mb
er 2
00
3
Ja
nu
ary
200
4
Ma
y 2
00
4
Se
pte
mb
er 2
00
4
Ja
nu
ary
200
5
Ma
y 2
00
5
Se
pte
mb
er 2
00
5
Ja
nu
ary
200
6
Ma
y 2
00
6
Se
pte
mb
er 2
00
6
Ja
nu
ary
200
7
Ma
y 2
00
7
Se
pte
mb
er 2
00
7
Ja
nu
ary
200
8
mc
m/d
ay
UK Monthly Gas Demand
Net downstrean stock injections
Net exports via IUK
Exports to the Republic of Ireland (and Isle of Man)
Implied UK consumption including downstream operators' own use and metering differences
Outline
• Production and Reserves
• Expenditure
• Prices, Income and Taxation
• Gross Value Added
• Employment
• Trade
• Recent Production History
• Production (and Demand) Projections
0
10
20
30
40
50
60
0
20
40
60
80
100
120
140
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Ga
s (b
illion
the
rms
)Oil
(m
illi
on
to
nn
es
)Actual/Projected UKCS Oil and Gas Production
Actual Oil Sept 2007 Oil Feb 2008 Oil
Actual Gas Sept 2007 Gas Feb 2008 Gas
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Latest BERR Projection (Feb 2008) 4.3 4.6 4.5 4.2 4.2 4.0 3.6 3.3 2.9 2.8 2.6 2.5 2.4 2.2 2.1 2.0
PILOT Production Targets 4.0 3.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
millio
n b
arr
els
of
oil e
qu
iva
len
t/d
ay
Projected UKCS Oil and Gas Production and PILOT Targets
Latest BERR Projection (Feb 2008)
PILOT Production Targets
-80
-70
-60
-50
-40
-30
-20
-10
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
-80
-70
-60
-50
-40
-30
-20
-10
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Actual/Projected UK Oil and Gas Production and Demand(million tonnes of oil equivalent)
Oil Production Oil Demand
Gas Production Gas Demand
Net Oil and Gas Exports/(Imports)
