Current Low Oil Prices: Implications for the UK's Energy Security Strategy of Maximising Hydrocarbon Recovery
Article from: OGEL 4 (2016), in Energy Security
Abstract
A major part of the UK's energy security strategy is ensuring security of supplies through domestic oil/gas production. As the UK continental shelf (UKCS) is a mature province characterised by declining production and small new finds, the Government is focused on maximizing recovery of all the economic hydrocarbons on its continental shelf. To achieve this aim, it has put in place certain mature province initiatives. This article discusses these initiatives and considers the possible consequences of the current slump in oil prices for them; it thus focuses on poor capital investments, ...