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British Oil And Gas Production Efficiency Increased For The Fifth Consecutive Year

- Jul 24, 2018 -

An industry report shows that UK oil and gas production efficiency has increased for the fifth consecutive year.

The Oil and Gas Authority (OGA) said it also produced 12 million barrels of oil equivalent.

In 2017, the productivity of the British continental shelf rose to 74%, an increase of 1% over the previous year. The agency says it helps increase the oil equivalent of 32,000 barrels a day.

The report takes into account the northern and southern parts of the North Sea, with three of the five regions being more efficient than the previous year.

In March of this year, the British oil and gas company disclosed that exploration activities in the North Sea region were at the lowest level since the early 1970s, and only 94 oil wells were mined last year.