The Journal: UK Onshore Oil and Gas Reserves Are Being Wasted, Industry Says

Onshore oil and gas reserves in England could be at least five times greater than those off the coast of the British Isles so why aren’t we doing more to recover them?

Over the last 50 years the North Sea has yielded 40bn barrel of oil equivalent (boe) with around a further 20bn boe yet to be retrieved. It supports a huge industry employing 450,000 people and delivers billions of pounds to the national coffers.

But declining North Sea production volumes - down to 1.4m boe a day from 4m boe a day in the last 10 years – means we are now a net importer of gas, leading to growing concerns over energy security.

Read the full article HERE.