UK warned on exploration decline
The country’s watchdog isn’t happy after just four exploration wells were drilled last year
The head of the UK's oil and gas industry watchdog has urged operators to "use it or lose it" as a report last week revealed that oil and gas exploration in the UK North Sea has fallen to historic lows. Andy Samuel, chief executive of the Oil and Gas Authority (OGA), urged operators to explore and exploit their North Sea licenses or have them revoked. The 2018 Economic Report on the sector showed that years of cost control by operators and the supply chain in the wake of the oil price crash meant new North Sea investments should break even at $40-$50/boe. However, operators have been reluctant to try find new hydrocarbon reservoirs. The report, by trade body Oil & Gas UK (O&GUK), fou
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
