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13 Aug 26 |
UK: New report reveals North Sea revenue drop off as firms flee EPL New data from the Government Expenditure and Revenue Scotland (Gers) report has revealed revenue from the North Sea has fallen £1.6billion in the space of two years. The figures show North Sea revenue has dropped off sharply from close to £5.5billion in 2023-24, to just under £4.5billion in 2024-25, and most recently to £3.9 billion in 2025-26. |
13 Aug 26 |
UK: Reinstated wells produced 16 million boe in 2025 North Sea operators produced an extra 16 million barrels of oil from 56 reinstated wells in 2025 as they focused on well interventions which boosted production and efficiency. The success of this campaign has been supported by a significant improvement in intervention efficiency, with the cost per barrel of oil equivalent added decreasing from £9.60/boe in 2024 to £7.60/boe in 2025. A total of 398 well interventions were carried out in the year. |
13 Aug 26 |
UK: Leading North Sea operators back NSTA well decommissioning charter North Sea operators have pledged to support an initiative to help them meet their well decommissioning obligations, boost the supply chain and potentially deliver significant savings for industry and taxpayers. The North Sea Transition Authority (NSTA) and 17 operators have signed a charter with a set of guiding principles, including working collaboratively to develop a smoother approach to wellhead removals. |
