The Oil and Gas Authority has launched a new podcast focussing on a new wave of North Sea exploration.
Operators Cnooc International, Equinor and Total will join the regulator on the programme, showcasing new discoveries in the region following a period of some of the lowest exploration activity since the 1960s.
Equinor will discuss its Verbier prospect in the Moray Firth, while Total and Cnooc will discuss Glendronach and Glengorm, which respectively hold 175million and 250million barrels of oil equivalent respectively.
The podcast is available on Spotify, iTunes and the OGA website.
Head of exploration and new ventures at the OGA said: “It’s a very positive time for exploration, especially in the frontier West of Shetland region which is now a key area for growth.
“The OGA estimates there is 4 billion boe yet to be discovered from existing mapped prospects, with an additional 11 billion boe possible from new plays in the UKCS.
“Finding costs have gone from $9 to $1 per barrel, adding a further incentive to explore.
“The extensive opportunity-set, and improved industry performance, underlines the considerable potential of the UKCS with there being every chance of more significant finds.”
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