Oil production increased for the first time since 2000 with total liquids output reaching 1.9 mmbbl/d. It is expected to remain flat over the next five years. Gas production remained flat in 2014 due to the softening European market. Production is expected to remain at this level until 2019. The industry focussed on value over volume intensified by the sharp drop in oil price. A number of major projects were delayed impacting production from this year and into the next decade.