Extending the life of the North Sea
Oil and gas production is likely to sag in the coming years, but the industry won’t go without a fight
UK oil and gas production rose to 1.63m barrels of oil equivalent a day in 2017, the highest level since 2011. It would have been higher still but for the unplanned closure of the Forties Pipeline System for repair in December 2017. There's more upside to come. Consultancy Wood Mackenzie estimates the UK will produce 1.74m barrels a day in 2018, as fresh production more than offsets declines in maturing fields. The roster of developments making progress has been growing, too. The green light was recently given to the redevelopment of the Alligin and Vorlich fields by BP, and Chevron has re-tendered for the floating production and storage vessel for its Rosebank field, northwest of Shetland.
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
