Offshore rig

Oil and gas fields in the UK Continental Shelf have reported an increase in production for the first time in 15 years by more than 7%, according to Oil & Gas UK.

Oil & Gas UK chief executive Deirdre Michie said: "Government data for the first ten months of 2015 shows that the total volume of oil and gas produced on the UK Continental Shelf (UKCS) was up 8.6% compared with 2014, with the production of liquids up 10.6% and gas up 6.1%.

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"Output in November and December tends historically to be more stable, but even so, Oil & Gas UK now expects year-end production for the full year of 2015 to be seven to eight percent higher than last year."

The industry body predicted a marginal increase in production for 2015.

"Oil & Gas UK now expects year-end production for the full year of 2015 to be seven to eight percent higher."

Oil & Gas UK said that with focus on improving production efficiency coupled with investments of more than £50bn over the last four years to make new fields operational across the last 12 months is providing a better result.

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Michie added: "While the UK offshore oil and gas industry is having to adapt to the low oil price and driving greater efficiencies throughout its operations, the fact is that the value of our product has more than halved.

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"We will continue to see job losses as we move into 2016 and we must be thoughtful and supportive of our colleagues and their families who are being made redundant or who are at risk of being made redundant."

Oil & Gas UK launched the Industry Behaviours Charter as a catalyst for change as well as an online portal, the Rapid Efficiency Exchange.

Companies can use the portal to share their common problems and highlight better solutions.

Image: The UK offshore oil and gas industry needs to adapt to the low oil price and drive greater efficiencies throughout its operations. Photo: courtesy of suwatpo/FreeDigitalPhotos.net.