Insight
The UK government's North Sea consultation conundrum
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
2025 is a year of consultation on the UK North Sea. The government is currently pondering a successor to the flawed energy profits levy and it is also consulting on “Building the North Sea’s Energy Future”. Both need to get it right to ensure North Sea investment in upstream and low-carbon industries thrive long term. The stakes are high. “Building the North Sea’s Energy Future” has a wide-ranging scope, but among its key aims is: • Not to issue new licences to explore for new fields • To take a science-aligned approach to future UKCS production This report looks at what policy the government could adopt to meet these aims.
Table of contents
-
Executive summary
- Exploration licensing
- Bid rounds have had their day
- Targeted licensing is a smarter approach
- What’s left on unlicensed UKCS acreage?
- Scope to improve UKCS production
- The case for UKCS gas
- The case for UKCS crude
- A better way for the North Sea
Tables and charts
This report includes the following images and tables:
-
2013-24 bid round discovered resources vs. acreage awarded pre-2014 (mmboe) & UKCS exp well count by yearUKCS resources by sector and hydrocarbon type on open & relinquished licencesUKCS scope 1, 2 & 3 emissions vs. IPCC & UK CCC net zero emissions pathway
-
Scope 1&2 emissions intensity of UK gas supply (2024) & future UK gas supply by sourceUK scope 1&2 emissions by gas supply source (2025-2050) & change in same emissions under a high case UKCSCost of gas supply to EuropeUK import & exports of crude & products by source/destination country or region
What's included
This report contains:
Other reports you may be interested in
Asset Report
Alvheim
The Alvheim development is located to the west of Heimdal in the Norwgian North Sea, near the Norwegian-UK border.
$5,280
Asset Report
Barnacle
The Barnacle field lies in the UK northern North Sea in Blocks 211/29 and 211/30, 5 kilometres southwest of the Statfjord B ...
$3,720
Asset Report
Magnus Area
The Magnus Area includes the huge Magnus oil and gas field and Magnus South, which are among the most northerly fields in the UK North ...
$3,720
