North Sea Oil Output Dips

UK oil production fell by 17 percent year on year in March – a decline the industry said was at odds with renewed investment in the North Sea.

Output slowed as the region revealed more evidence of its maturing fields, with figures from the Royal Bank of Scotland showing that combined oil and gas was down 13.5 per cent on the period in 2004.

Some 34 billion barrels of oil have been recovered from the North Sea since the first output 30 years ago, and the latest forecasts estimate future reserves at 28 billion barrels.
Rigzone