Plenty of life left in the North Sea

The North Sea oil and gas regime may well be mature, but reports of its imminent demise are not only premature but, it would also seem, somewhat exaggerated.This is the conclusion to be drawn from a major geological study covering the oil and gas province off the UK, Norway, and Denmark.Combined known recoverable petroleum reserves and resources are estimated to be 78,662.5 million bbl of oil equivalent, 60% oil, 33.6% natural gas, and 6.4% condensate and natural gas liquids and condensate. Click here to enlarge imageOf this total some 33,982.2 million bbl of oil equivalent have been produced, indicating that there is far more oil and gas still to produce than has been extracted so far. ...

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