Stark figures show North Sea production could be on course to wrap up by 2030

As the UK finds itself in the midst of a gas crisis, stark figures have shown that North Sea production could be on course to wrap up by the end of the decade.

Without the development and discovery of new fields, current reserves would sustain domestic production from the UKCS to 2030, according to projections from the Oil and Gas Authority (OGA).

In a new report, the industry regulator said its estimate for proven and probable (2P) UK reserves, as of the end of 2020, is 4.4 billion barrels of oil equivalent (boe).

That’s 0.8bn boe lower than it was as at the end of 2019.

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