New Deloitte Report Challenges UKCS Drilling Activity

Published at 02:29PM - 28/11/14

A new report by Deloitte has shown that drilling in the North Sea will need to double in the next two decades if the oil and gas industry’s recovery in the UKCS is to reach its full potential. The report’s authors also said that the industry would need to lead a ‘cultural shift’ to achieve full potential from the basin.

The report was commissioned to measure industry reaction to the recent Wood Review, and it showed that changes were needed quickly. Additionally, it found that UKCS drilling activity would need to increase by 200pc to over ninety wells annually over the next 20 years to fully maximise the potential remaining reserves, which are worth an estimated $1.3 trillion.