Exact figures are hard to ascertain, but it’s broadly agreed amongst analysts of the North Sea industry, that: Approximately 24bn barrels could still be available for extraction. The PPRS system was enhanced on 9 June 2017. The current range of published estimates of output in 2035 (8-20 bcm) reflects the geological and economic uncertainties over future exploration and investment rather than conventional cost-based competition with imported gas. The Piper oilfield was discovered in 1973 and the Statfjord Field and the Ninian Field[9] in 1974, with the Ninian reservoir consisting of Middle Jurassic sandstones at a depth of 3000 m subsea in a "westward tilted horst block". [5] The Slochteren-1 well found gas in the Rotliegendes in 1959,[5] although the full extent of what became known as the Groningen gas field was not appreciated until 1963—it is currently estimated at ≈96×10^12 cu ft (2,700 km3) recoverable gas reserves. B. [citation needed] Norwegian crude oil production as of 2013 is 1.4 mbpd. The field will reach maximum output of 660,000 B/D in its second phase, which starts towards the end of 2022. [8] Larger gas finds followed in 1966—Leman Bank, Indefatigable and Hewett, but by 1968 companies had lost interest in further exploration of the British sector, a result of a ban on gas exports and low prices offered by the only buyer, British Gas. Production: Since UK production began, 40billion barrels of oil have been extracted from the seabed. Oil production started from the Argyll & Duncan Oilfields (now the Ardmore) in June 1975[10] followed by Forties Oil Field in November of that year. [4] 1952 saw the first exploration well in the province of Groningen, Haren-1, which was the first to penetrate the Lower Permian Rotliegendes sandstone that is the main reservoir for the gas fields of the southern North Sea, although in Haren-1 it contained only water. Production: Since UK production began, 40billion barrels of oil have been extracted from the seabed. Over two and a half billion tonnes were recovered from UK offshore oil fields between the first North Sea crude coming ashore in 1975 and 2002, [78] with most oil fields being expected to remain economically viable until at least 2020. This statistic shows the United Kingdom's North Sea revenue from 2008/09 to 2018/19. And production will continue to grow for several more years, much thanks to the newly opened Johan Sverdrup field in the North Sea. It is one of the largest discoveries made in the Norwegian Continental Shelf. In 2011, Norway was the eighth largest crude oil exporter in the world (at 78Mt), and the 9th largest exporter of refined oil (at 86Mt). It is estimated that the Norwegian sector alone contains 54% of the sea's oil reserves and 45% of its gas reserves. [3], Gas was found by chance in a water well near Hamburg in 1910, leading to minor gas discoveries in Zechstein dolomites elsewhere in Germany. Off shore production, like that of the North Sea, became more economical after the 1973 oil crisis caused the world oil price to quadruple, followed by the 1979 oil crisis, causing another tripling in the oil price. The submission guidance on this system describes the data requirements and format for the reporting of hydrocarbon production from offshore and onshore fields and terminals in the UK. [41] The cost of geological sequestration is minor relative to the overall running costs. Pipelines: Once oil and gas has been extracted, it is transported ashore by tanker or a network of pipelines totalling 22,000 miles, double the distance from Aberdeen to Adelaide. Offshore Shifts: Around 30,000 people work offshore in UK waters, typically for 10-and-a-half hours a day for two weeks, and then a helicopter returns them to shore where they have at least two weeks away from work. [14] The exploration of the North Sea has been a story of continually pushing the edges of the technology of exploitation (in terms of what can be produced) and later the technologies of discovery and evaluation (2-D seismic, followed by 3-D and 4-D seismic; sub-salt seismic; immersive display and analysis suites and supercomputing to handle the flood of computation required). But there is a lot of acreage left in the Norwegian sea, the Barents sea and the Lofoten area (The reason why I mention the Lofoten area last, is that it not very wise to sacrifice a pristine fishing area for the purpose of getting up as much oil/gas as possible for a cheap price. [6] BP had been awarded several licences in the area in the second licensing round late in 1965, but had been reluctant to work on them. The decision means an eighth tender offer for oil and gas exploration in the North Sea will now be cancelled. [27], The distances, number of workplaces and fierce weather push the 750,000 square kilometre (290,000 square mile) North Sea area to operate the world's largest fleet of heavy instrument flight rules (IFR) helicopters, some specifically developed for the North Sea. The tables below list recent oil and gas Field Development Plans Consents and Field Development Plan Addenda Consents issued by the OGA. All operate a tax and royalty licensing regime. [25], The largest field found in the past five years on the Norwegian part of the North Sea, is the Johan Sverdrup oil field which was discovered in 2010, with further oil of the same field was discovered the next year. [6] The celebrations were short-lived since the Sea Gem sank, with the loss of 13 lives, after part of the rig collapsed as it was moved away from the discovery well. [31][32][33] The Danish explorations of Cenozoic stratigraphy, undertaken in the 1990s, showed petroleum-rich reserves in the northern Danish sector, especially the Central Graben area. "North Sea gas" redirects here. North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea. [6] The following year, Shell Expro discovered the giant Brent oilfield in the northern North Sea east of Shetland in Scotland and the Petronord Group discovered the Frigg gas field. Production start is planned to happen in 2018. Platforms: There are currently 281 North Sea installations which either float or are fixed to the seabed on legs. Brent crude is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea. Current unplanned outages at Oseberg and Flotta in the North Sea restrict a total of 160,000 bpd of North Sea production, the energy research firm said on … [7] Helicopters were first used to transport workers. [11] The inner Moray Firth Beatrice Field, a Jurassic sandstone/shale reservoir 1829 m deep in a "fault-bounded anticlinal trap", was discovered in 1976 with well 11/30-1, drilled by the Mesa Petroleum Group (named after T. Boone Pickens' wife Bea, "the only oil field in the North Sea named for a woman")[12] in 49 m of water. North Sea oil supplied 67% of the UK’s oil demand in 2012 and 53% of the country’s gas requirements and is a major boost to the country’s economy. To date, 11,000 wells have been drilled in UK waters including those for exploration, appraisal and production. Although North Sea oil production has been declining since 1999, an estimated 920 million tonnes of recoverable crude oil remained in 2009. It was also the world's third largest natural gas exporter (at 99bcm), having significant gas reserves in the North Sea. [citation needed]. Oil production has slowed in the past decade but new discoveries are still being made in the North Sea. North Sea revenue refers to revenues from petroleum revenue tax, … There are between 30 to 40 years of production remaining. [6] The same month, Amoco discovered the Montrose Field about 217 km (135 mi) east of Aberdeen. [19] The Alba Field produces from sandstones in the middle Eocene Alba Formation at 1860 m subsea and was discovered in 1984 in UKCS Block 16/26. Energy Supply: OIL and gas from the North Sea are instrumental in providing 70 per cent of the UK’s energy for transport, heating and electricity. 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