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    UK Offshore Efficiency Saves 50mn Boe


The upstream has extracted more value from operations and cut carbon emissions in the process.

by: William Powell

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UK Offshore Efficiency Saves 50mn Boe

Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the regulator Oil & Gas UK said July 30. The year saw a 40% decrease in losses from unplanned shutdowns and a 26% reduction in losses from planned shutdowns.

The 5 percentage point year on year efficiency increase was driven by a significant 25% reduction in production losses, which represented 50mn barrels of oil equivalent (boe), it said. Every region of the UKCS reported a rise, except West of Shetland which saw no change.

Other successes include plant losses down by 29%; planned shutdowns ran to schedule with just a 1% overrun on planned time, against 15% overrun in 2018; and every region of the North Sea saw an increase in actual wellhead production from the previous year, except for the declining gas province of the Southern North Sea.

OGA said the 23% improvement since 2014 has contributed to cut of about 10% in carbon emissions per barrel of oil produced over the same period. “The sustained rise in production efficiency represents a significant achievement by the industry, which plays an important part in both maximising economic recovery from the UKCS and helping in the drive towards lower emissions intensity," it said.