Published: Jun 21, 2007
• Supplies around 75% of UK energy needs
• Sector supports 380,000 jobs
• Industry annual spend GBP10bn ($20bn)
• Around 37bn barrels oil equivalent produced so far
• Anticipate 16bn-25bn boe remains to be produced
• Around 300 offshore fields in production
• Oil and gas production expected to be 3.1m boe per day in 2007
• Oil production expected to be 1.65m-1.7m bpd in June
• UK net gas importer, expect slight oil exporter this year
• Buzzard largest oil project brought on stream this decade
• More than 140 oil companies active in UKCS
• Top investors still oil majors BP, ExxonMobil and Shell
• Fastest-growing oil producers are Calgary-based Nexen and Oilexco
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