Country Report

United Kingdom upstream summary

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06 March 2019

United Kingdom upstream summary

Report summary

One of the world's most mature oil and gas basins - the UK has been producing hydrocarbons offshore since 1967. More than 45 billion boe of oil and gas has been produced to date and we forecast 7 billion boe of remaining reserves under current cost and pricing assumptions. Liquids production averaged around 1 million b/d in 2018 and gas production around 3.6 bcfd. This continues a period of production growth in the UK as production efficiency and facility uptime has become a key focus ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • Majors
    • Key private equity-backed players
    • Capital investment
    • Introduction
    • Central North Sea
    • Northern North Sea
    • Southern Gas Basin
    • West of Britain
    • Atlantic Margin
    • Onshore
    • Licensing
      • Recent Licensing Rounds
      • Past Licensing Rounds
      • Future licensing rounds
    • Drilling
      • Drilling activity
      • Offshore
      • Recent Activity
      • Historical Drilling Activity
      • Success rates
    • Unconventionals
  • Reserves and resources
    • Oil
    • Gas
    • Introduction
    • Pipeline Systems
    • Oil infrastructure
    • Gas infrastructure
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
    • Key legislation
    • Regulatory body
    • Licensing
      • Current licence types:
      • Historical licence types:
    • European Union Emissions Trading Scheme (EUETS)
    • Overview
    • Upstream
    • Mid/Downstream
      • Pipelines
      • Gas Utilisation
    • Current fiscal terms
      • Government equity participation
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Ring Fence Corporation Tax (RFCT) and Supplementary Charge (SC)
      • Petroleum Revenue Tax (PRT)
      • Fiscal treatment of decommissioning
      • Product Pricing
    • Historical background
      • Royalty
      • Petroleum Revenue Tax (PRT)
      • Supplementary Petroleum Duty (SPD)
      • Advance Petroleum Revenue Tax (APRT)
      • Gas Levy
      • Writing Down Allowance (WDA) for RFCT
      • Obsolete Field Allowances (for Supplementary Charge)

Tables and charts

This report includes 52 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Reserves and resources: Table 3
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Liquids and Gas Production 2019
  • Capital Expenditure 2018
  • Net Acreage 2019
  • UK Offshore - Structural / Topographic Map
  • Production: Table 1
  • Production: Table 2
  • Liquids Production by Region
  • Liquids Production by Development Status
  • Production: Table 3
  • Production: Table 4
  • Production: Table 5
  • Production: Table 6
  • Gas Production by Region
  • Gas Production by Development Status
  • Production: Table 7
  • Production: Table 8
  • Pipeline Systems in the UKCS
  • Infrastructure: Table 1
  • Infrastructure: Table 2
  • Concessions
  • Top Marginal Rate of Tax for New Fields and Forties with Oil Price (£ money of the day)
  • Exploration: Table 1
  • Exploration: Table 2
  • Exploration: Table 3
  • Exploration: Table 4
  • Exploration: Table 5
  • Exploration: Table 6
  • UK Exploration and Appraisal Drilling Activity 1965 - December 2016 (includes sidetracks and onshore wells)
  • Geological and Commercial Success Rates
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Costs: Table 4
  • Costs: Table 5
  • Costs: Table 6
  • Costs: Table 7
  • Costs: Table 8
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Sample Cash Flow
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10

What's included

This report contains:

  • Document

    Country Overview

    PDF 11.45 MB

  • Document

    Executive summary

    PDF 702.49 KB

  • Document

    Key facts

    PDF 683.73 KB

  • Document

    Location maps

    PDF 4.36 MB

  • Document

    Key companies

    PDF 730.52 KB

  • Document

    Geology

    PDF 4.40 MB

  • Document

    Exploration

    PDF 784.31 KB

  • Document

    Reserves and resources

    PDF 725.90 KB

  • Document

    Production

    PDF 810.69 KB

  • Document

    Infrastructure

    PDF 3.69 MB

  • Document

    Costs

    PDF 718.29 KB

  • Document

    Policy and regulation

    PDF 715.16 KB

  • Document

    Fiscal terms

    PDF 794.73 KB

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