December 2014
Supplement
UK Continental Shelf at a crossroads
The UK Continental Shelf (UKCS) is at a crossroads in its long-term evolution, as recent measures of activity present a mixed picture. Production has been falling at a brisk pace, reaching 1.45 MMboed in 2013. This is far below the peak of 4.5 MMboed in 1999. This is due to several factors, particularly the natural and inevitable decline in output from mature fields, the falling, average size of new field discoveries and development, and the fall in production efficiency. Production efficiency is the ratio of output to the maximum attainable rate, taking into account the need for regular maintenance. This ratio has fallen from 81% in 2004 to 61% in 2012, and reflects the substantial increase in downtime from technical problems in producing facilities. This problem is present in very old, and not-so-old, platforms.
