How Much Oil is Left in the North Sea?

By definition, non-renewable resources are destined for depletion. But according to the latest statistics from the Oil and Gas Authority (OGA), it’s not time to start throwing around the ‘D’ world just yet. On the contrary, the British regulator has published research highlighting the ‘significant opportunity’ of small oil and gas pools that sit untapped in the North Sea.

The word ‘significant’ isn’t used lightly, with analysts estimating that over three billion barrels of untapped oil still sits beneath the UK continental shelf. According to the OGA, this could revive the North Sea oil and gas industry, if operators are able to successfully tap into the reserves.

“If the subsea industry can rise to the challenge of economically tapping into these pools, the North Sea could have a whole new lease of life,” comments NSRI project director Dr Gordon Drummond.

The challenges of scraping the bottom of the barrel

That said, it’s not quite as easy as it sounds. As the pools are small and isolated, accessing the reserves could call for the development of new technologies.

"We recognise the challenges operators are facing to develop these marginal oil and gas accumulations. Small pools represent a very significant opportunity to maximise economic recovery from the UK continental shelf,” says OGA head of technology Carlo Procaccini.

“Technology has an important role to play to reduce the cost of development wells, design optimised subsea infrastructure to existing host facilities and develop efficient standalone concepts,” she adds.

Unlocking small pool potential

But despite the challenges in place, OGA isn’t ruling out the possibility of tapping into the remaining North Sea reserves. Working closely with both the Technology Leadership Board and the new Oil and Gas Technology Centre (OGTC), the British regulator plans to develop new technologies designed to unlock these small pools.  

According to Drummond, these pools have bigtime national importance when it comes to fast-tracking the UK’s economic recovery. As such, he maintains that “they must be considered as an industry asset if they are to be capitalised upon.”

And thanks to an extensive mapping exercise, operators now know the exact locations of these small pools, and the technologies that are needed to unlock their potential.

An open mind

Of course, it’s not just technology that’s required to give the North Sea its new lease on life. Drummond is quick to remind Brits that “technology is only part of the solution,” and that in order to switch the site into top gear, “the industry must be much more receptive to innovation - there must be a willingness to work more collaboratively on multi-field applications and on access to infrastructure."

While some are focussing on how to stretch non-renewable resources as far as possible, others are spotlighting whether it’s possible for eco-friendly solutions to complement their fossil fuel counterparts. ‘Can fossil fuels and green energy work hand-in-hand?’ explores the concept, with exclusive insight from Professor Dr. Gioia Falcone, Head of the Oil and Gas Engineering Centre at Cranfield University.