Ed Davey, secretary for energy and climate change has recently announced that a review will be conducted looking into how to maximise oil production.
He stated that “Although we have produced a lot of barrels in the North Sea, there is an awful lot there still to be produced as well.”
The issues that he identified were falling exploration and production rates, ageing infrastructure, declining efficiency and the risk of premature decomissioning. He stated that, “All these challenges need to be addressed if we are going to get the maximum economic benefit from the UK.”
The review will examine how to extend the life of infrastructure, improve efficiency and promote the use of enhanced techniques to extract hard-to-reach oil.
You can read the full article here: The Guardian: North Sea oil review to look at maximising UK production