Decades of future investment ahead in oil & gas

The East of England remains the leading centre for offshore gas exploration and extraction in the Southern North sea (SNS) after the UK’s great oil & gas rush began more than 50 years ago.

The basin continues to contribute 20% of the UK’s gas demand and is estimated to have another 20 years’ supply left.

Work by the Oil and Gas Authority suggests a further 8 trillion cubic feet of prospects are still to be discovered and the SNS remains an attractive basin for further investment.

As a result, the East of England Energy Zone (EEEZ) is home to a highly experienced workforce and supply chain with many industry leaders well established in the area. The EEEZ provides excellent access to a highly developed pipeline infrastructure and platform structures in an area with potential for at least 30 more years of gas extraction.

The area is recognised as a global centre of excellence in the offshore energy sector, having had oil and gas at the cornerstone of its economy since their discovery in the North Sea in the early 1960s. It also has the most concentrated reservoir of expertise, experience and knowledge available anywhere that gas is extracted in the UK.

Shallow water engineering, mature asset management and normally unmanned installations (NUIs) are among the many areas of expertise that have been developed in the area, adapting to an ever-changing industry.

The East of England coast looks out on a mature gas basin with opportunity and potential in changing times. Its supply chain and support structure is in the vanguard of this change by thinking differently and working collaboratively, meeting the demands for the industry to become smarter and leaner and the challengers of the tight (carboniferous) gas sector that promises a renaissance in SNS gas.

New discoveries – Cygnus, Tolmount and Platypus, and the recommissioning of the Thames gas pipeline bringing ashore gas from the new Blythe and Elgood fields – are bringing massive new investment to the region.

There is an increasing focus on prolonging the life of assets in the North Sea, either bringing drilling rigs in for major refurbishments or upgrading platforms in situ – all of this offering a whole new range of commercial opportunities, even before decommissioning is considered.

With gas the interim fuel of choice, and major investment in new discoveries, a clear appetite exists to unlock the remaining potential of the SNS.

Potential investments of up to £3bn are planned by gas producers in the SNS with at least another 20 years of gas left to develop.

The advancement of technology means new supplies of gas are being discovered.

Significant supply chains support will be needed for the redesign of the National Grid’s facility at the Bacton Gas Terminal.

The oil, gas & decommissioning brochure available below to download provides more details of the opportunities or contact us to find out more.

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EEEGR chief executive Simon Gray presenting on the EEEZ stand. (pic EEEZ)

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