Oil and gas production in Scotland has risen by 2.9% between 2015-16 and 2016-17, according to new figures.
The Oil and Gas Production Statistics 2016-17 also show that the approximate sales value increased by 15.2%, and production accounted for 82% of the UK total.
Minister for Business, Innovation and Energy, Paul Wheelhouse, said:
“Scotland’s oil and gas industry has a bright future, and it is encouraging to see this continued increase in production which has risen by a total of 25% over the last two years. These figures show that confidence is continuing to return to the sector after a number of challenging years.
“Capital investment on oil and gas fields in Scottish waters was £8 billion in financial year 2016-17 and the approximate sales value of oil and gas produced in Scotland was estimated to be £17.5 billion, which is a rise of 15.2% on last year.
“I do recognise that this remains a difficult time for the industry and its workforce, and the Programme for Government launched last week clearly outlines that even in the context of our low carbon transition harnessing the resources of the North Sea will be vital to the Scottish economy for decades to come. The Energy Jobs Taskforce has delivered an exceptional range of support for industry and individuals in the sector, and the Oil & Gas Industry Liaison Group, which I co-chair, will now take forward the actions identified by the Taskforce, ensuring Scotland’s oil and gas sector has a long-term future.
“The Scottish Government will continue to do everything within our powers to support the industry and its workforce, while calling on the UK Government to improve the fiscal and regulatory regime to encourage on-going investment to support jobs and export led growth.”
Key statistics in the publication are:
In financial year 2016-17, oil and gas production in Scotland (including Scottish adjacent waters) is estimated to have been 74.7 million tonnes of oil equivalent (mtoe).
Production in Scotland increased by 2.9% compared to 2015-16, and accounted for 82 per cent of the UK total (up from 80 per cent in 2015-16).
In 2016-17, oil and gas fields in Scotland accounted for 96 per cent of UK crude oil and nat ural gas liquids (NGL) production, and 63 per cent of UK natural gas production.
In 2016-17, the approximate sales value of oil and gas produced in Scotland is estimated to be £17.5 billion.
The approximate sales value increased by 15.2% compared to 2015-16, due to the increase in production over the year and an increase in prices at the end of 2016 and beginning of 2017.
In 2016-17, operating expenditure (excluding decommissioning) on oil and gas production in Scotland is estimated to be £5.9 billion, broadly unchanged from its level in financial year 2015-16 despite the increase in production.
In 2016-17, capital expenditure on oil and gas production in Scottish waters is estimated to be £8.0 billion, down from £10.1 billion in financial year 2015-16.