UK Oil Production, Reserves and Future Projection

George Kaplan 334 Comments

A Guest Post by George Kaplan

Production History and Reserves

UK oil production peaked in 1999. The peak was probably pushed out a couple of years because of the major production interruptions following the Piper Alpha disaster. Production declined quickly until around 2011, then the high oil price allowed more brownfield and then greenfield developments that created a third local peak in 2016. Production is declining again this year but there are several large projects due that will create another peak in 2018 or 2019 (nearly equal to the 2016 one). After that terminal decline is likely. The chart below shows C&C production split according to the year of first production of the field.

chart/

Like all such all diagrams, this shows that the largest fields were developed first and declined the slowest. Read More

OPEC July Production Data

Ron Patterson 281 Comments

All data below is based on the latest OPEC Monthly Oil Market Report.

All data is through July 2017 and is in thousand barrels per day.

The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all. It doesn’t really matter since they are only a very minor producer. Also they are in steep decline, dropping at about 10% per year.

The huge June OPEC production increased was due to a revision, explained below.

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