UKCS: still got it at 50
Despite low oil prices and extensive job losses, UK North Sea production isn't going into meltdown
Anyone hoping UK North Sea oil production would crumble in the face of low crude prices - and help rebalance the lopsided global oil market - is out of luck. Last year, despite painfully low oil prices, hydrocarbons output from the UK Continental Shelf (UKCS) managed its first increase in over 15 years. And growth could continue, as new fields enter production. In the first 10 months of 2015, liquids output rose by nearly 11%, compared with the same period of 2014. Natural gas production was up by around 6% on the year. Overall, full-year production will be 7-8% higher than in 2014, says Oil & Gas UK, a trade association of upstream operators. The North Sea is a high-cost basin, largely
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