Oil & Gas UK's Webb sees extended lives for North Sea production, infrastructure

Malcolm Webb Oil & Gas UK London The North Sea oil and gas sector, contrary to what some sources say, still has a long life ahead of it, maybe 50 years or more. The UK offshore oil and gas industry plays an important role in maximizing the potential of the region's hydrocarbon resource, bringing benefits to the UK economy and long-term energy security, as well as developing technical expertise that is in high demand globally. Oil and gas produced off the UK's coastline in 2011 met 68% of the country's demand for oil and 58% of its demand for gas—that's half of the UK's primary energy needs. Even upon achievement of the government's target to source 15% of our energy from renewables ...

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