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Scottish oil and gas production statistics
The oil and gas industry in Scotland is adapting to the sustained period of low prices, with production up more than a fifth this year. The Scottish government’s 2015–2016 Oil & Gas Production Statistics show that Scottish production increased by 21.4% compared to 2014–2015 levels. This is the largest annual increase recorded in the statistics, which begin in 1999. While the total sales value was estimated at £13.4 bn, the value of sales has decreased due to the low price – illustrating the challenges the sector faces. Capital investment on oil and gas fields in Scottish waters was £10.2bn and the approximate sales value of oil and gas produced in Scotland is estimated to be £13.4bn.
News Item details
Journal title: Petroleum Review
Subjects: Banking, finance and investment, Oil markets, Energy consumption, Oil and gas, Offshore production, Oil prices
