SGB spending up by a third

Development capital spending in the UK southern North Sea could rise 35% this year to £375 milion, according to the UK Offshore Operators Association. This was one of several statistics issued by UKOOA's Mike Tholen and Malcolm Webb during a presentation at the East of England Energy Group's conference this week.

Webb said the sector had produced around 1,130 bcm to date, and currently supplied close to a third of the UK's gas needs. That share could climb to 60% by 2008, as new pipeline capacity takes shape, such as the BBL pipeline from The Netherlands to Bacton. Since 2003, Webb added, UK southern sector spending has totaled £700 million/yr, with operating costs over the same period of £350 million/yr.

02/04/05