Study predicts sharp decrease in UKCS medium- and long-term production following oil price collapse

Study predicts sharp decrease in UKCS medium- and long-term production following oil price collapse

A study examining the prospects for activity in the UK Continental Shelf (UKCS) has projected a sharp decrease in medium- and long-term production from 2019-2050. The findings are consistent with substantial job losses and many undeveloped discoveries, said co-author Alex Kemp, Professor of Petroleum Economics at the University of Aberdeen and director of the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF).

The Study titled 'Prospects for Activity in the UKCS after the Oil Price Collapse' is freely available to download from the ACREEF website. Professor Kemp’s paper has received significant media attention in recent months including mentions in the Press & Journal, the Evening Express, the Financial Times, the Wall Street Journal and the Chemical Engineer. A press publication in the Chemical Engineer titled ‘Study predicts substantial job losses in oil and gas following price collapse’ summarises the implications of Professor Kemp’s findings on jobs and the future of oil and gas investments in the UKCS.