This study employs financial simulation modelling, including use of the Monte Carlo technique, to project oil and gas activity levels in the UK Continental Shelf to 2050 with an oil price scenario gradually rising from 2019 onwards to reach $100 per barrel in real terms in 2050. The Monte Carlo...

Hydrocarbon production from the UK Continental Shelf has now passed its peak. Net gas import requirements started in 2004 and increase substantially. The remaining reserves of both oil and gas are substantial, but are distributed largely in relatively small fields. Historically, depletion policy...

Over the next 20 years the gap between gas consumption and production in Western Europe will grow very substantially. Rising consumption and the need for further imports have implications for the provision of adequate infrastructure and the contractual relationships between producers of...