UKCS production efficiency improves for fifth consecutive year

UKCS production efficiency (PE) rose for a fifth consecutive year, increasing to 74% in 2017, and the improvement is estimated to have contributed to an additional 11.8 million boe during 2017, reports the UK Oil & Gas Authority.

PE is defined as the total volume of hydrocarbons produced in 2017 as a percentage of economic maximum production potential. More details will be published in the annual report, UKCS Production Efficiency 2017, scheduled for release by late August.

The information was collected as part of UK OGA’s 2017 UKCS Stewardship Survey, which analyzes operating performance in key areas such as the causes of production losses. The Maximizing Economic Recovery (MER) UK Asset Stewardship Task Force has set an average PE target of 80% PE by Dec. 31.

In recent years, the UKCS has reversed a declining trend in both PE and overall production. Statistics show 2017 production was 1.63 million boe/d or 595 million bbl. PE in the UKCS fell from more than 76% in 2008 to a low of 60% in 2012.