Presentation by Professor Alex Kemp on Prospective Production, Field Development and Decommissioning Activities in the UKCS
On 27th March Professor Alex Kemp gave a presentation entitled "Prospective Production, Field Development and Decommissioning Activities in the UKCS" to the Oil & Gas Outlook North Sea 2014 conference in Aberdeen.
The presentation provided projections of prospective activity levels in the UKCS over the period 2014-2050 based on new research by Professor Kemp and Linda Stephen. The financial modelling involved several scenarios with different assumptions regarding oil and gas prices, investment hurdle rates, and extent of resolution of the production efficiency problem. With long term investment screening prices of $90 per barrel and 58 pence per therm in real terms aggregate production over the period 2014-2050 could be around 15 billion barrels of oil equivalent.