Oil & Gas UK’s chief executive, Malcolm Webb, said: “On the face of it, a production decline of this magnitude is extremely worrying and we need to investigate and fully understand what has happened here. For the sake of the UK’s economy and its energy security, we should be doing everything we can to encourage sustained investment in our nation’s oil and gas resource to slow the decline and prolong the producing life  of fields. This latest data underlines the importance of the ongoing work of Oil & Gas UK’s members and the Government to improve the business environment for investing companies.”

Ends

The Department of Energy and Climate Change's production figures are available here.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.