UK oil and gas production to only last another a decade, study reveals
UK oil and gas industries are reportedly entering the last decade of production due to depleting resources, according to research conducted by the University of Edinburgh, Scotland.
Researchers assessed the output from the offshore fields and found resources have depleted significantly, with just 11% of oil and 9% of gas currently available for recovery.
Furthermore, it revealed that fracking within the UK will not be economically viable in the long-term due to the absence of suitable locations and geological features.
Published by the Edinburgh Geological Society, the study recommended increasing the use of renewable energy primarily derived from offshore wind and solar sources.
University of Edinburgh School of GeoSciences professor Roy Thompson said: "The UK urgently needs a bold energy transition plan, instead of trusting to dwindling fossil fuel reserves and possible fracking.
"We must act now and drive the necessary shift to a clean economy with integration between energy systems.
"There needs to be greater emphasis on renewables, energy storage and improved insulation and energy efficiencies."
In the study, scientists from the university analysed the UK’s oil and gas production and evaluated the country’s potential to start new fracking projects.
It was found that the long-term downward trends of oil and gas field size, lifespan, and associated costs are not feasible for fracking, which requires thousands of wells.
Many possible sites were also found to be densely populated with low-quality source rocks and complicated geological structures.
Researchers warned that the UK is in danger of having to rely solely on imported oil and gas to meet its requirements if the study's results are accurate.