UK oil reserves enough for other two decades of production

UK oil reserves enough for other two decades of production

UK has 5.4 billion of oil equivalent at the end of 2017, a level that should keep the UK producing for at least two more decades. This statement from the UK Oil and Gas Authority also adds that remaining UK recoverable petroleum resources is in the range 10 to 20 billion boe, including discovered and undiscovered petroleum resources. UK Continental Shelf (UKCS) petroleum reserves and discovered resources are 70% oil and 30% gas, when expressed in oil equivalent terms. A total of some 44.1 billion boe had been produced to end 2017 from the UKCS.