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2015-08-05 18:20:00

NORTH SEA OIL

NORTH SEA OIL

Oil and gas production from the North Sea is expected to increase for the first time in 15 years despite a global slump in the price of crude and hundreds of job losses in the industry.

Offshore watchdog Oil and Gas UK has said that output from the UK Continental Shelf (UKCS) over the first six months of this year could be 2.5pc higher than the same period last year. On these estimates, the body believes that the North Sea could increase production this year for the first time since 2000.

While production has climbed, oil and gas operators in the North Sea and Aberdeen have slashed jobs and cut costs aggressively…

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Tags: OIL, GAS, NORTH, SEA, UK
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