Industry Analysis & Industry Trends
UK oil and gas production has declined since its peak in the late 1990s as existing fields have matured and it has become increasingly challenging to develop new commercially viable sources. Operators have been able to endure this instability by forming partnerships to pool their resources and make their extraction more efficient. The industry ramped up investment early in the five years through 2016-17 in an effort to soften the blow of declining output. However, price fluctuations have negatively affected industry revenue and have been responsible for the sharp fall in revenue since 2013-14.
Shale gas, which is extracted through the controversial practice of hydraulic fracturing (fracking), has emerged as a potential lifeline for the industry. A... purchase to read more
Industry Report - Industry Locations Chapter
Scotland accounts for 30.6% of industry establishments, which highlights its dominant role in the Crude Petroleum and Gas Natural Extraction industry. Although this figure is high, the revenue derived from Scotland makes up the vast majority of industry revenue. The UK continental shelf, located in the North Sea off the eastern coast of the United Kingdom, contains the bulk of the United Kingdom's oil and gas reserves. Some gas is also extracted from standalone natural gas fields in the Southern Gas Basin, which is next to the Dutch sector of the North Sea, and standalone natural gas fields in the Irish Sea. The.. purchase to read more