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Author – Natalie Coupar,\u00a0Corporate Affairs Director, OEUK<\/p>\n
There\u2019s been a lot of commentary recently questioning whether the North Sea still matters to the UK.<\/p>\n
We\u2019ve seen claims that new licences deliver ‘only days of gas’, that producing energy here makes no difference because prices are set globally, and that the UK is more or less out of resources anyway.<\/p>\n
These arguments sound simple. But they don\u2019t reflect how the UK energy system actually works, or what the evidence shows.<\/p>\n
And that matters, because these debates shape decisions that affect households, jobs, and how secure our energy supply really is.<\/p>\n
So let\u2019s take a step back and look at the facts.<\/p>\n
Claim: Hundreds of North Sea licences have delivered only ’36 days of gas’, proving new drilling does not improve energy security.<\/p>\n
The reality:<\/p>\n
This actually proves the opposite. In a mature basin like the North Sea, you need a constant churn of investment and new licences just to stand still. Without ongoing activity, decline accelerates and import dependence rises faster. That is why countries like Norway continue to license and develop new projects. Their approach allows them to replace what they produce and manage decline more effectively. In industry terms, this is measured through the reserves replacement ratio \u2013 how much new resource is added compared with what is produced. Norway consistently produces a higher reserves replacement ratio than the UK. Over the 5 year period 2019-2024, through exploration, Norway replaced on average 46% of the reserves that were produced, the UK however, replaced just 14%.<\/p>\n
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Granting licenses does not deliver instant volumes. They exist to sustain future supply and slow decline over time. Modern UK projects do not take decades to come online \u2013 long timelines often quoted reflect historic projects that were paused and later revived, not today\u2019s basin.<\/p>\n
Today, the North Sea still provides over half of the UK\u2019s oil and gas needs. With the right conditions, we can sustain production for longer, reduce exposure to imports, and manage the transition more securely. Without licensing and investment, the UK simply becomes reliant on overseas supplies sooner \u2013 regardless of demand falling.<\/p>\n
Claim: Domestic production doesn\u2019t matter because prices are global<\/p>\n
The reality:<\/p>\n
It\u2019s true that UK gas prices are influenced by international markets. But that doesn\u2019t mean domestic supply is irrelevant.<\/p>\n
What recent energy crises showed very clearly is this: the more energy you import, the more exposed you are.<\/p>\n
Imported gas, especially liquefied natural gas (LNG), is bought on a global market. When there\u2019s disruption anywhere in the world, prices rise quickly. Cargoes are diverted, shipping costs increase, and countries compete for supply.<\/p>\n
Domestic production helps protect against that. It provides steady supply into the UK system, reduces how much LNG we need to buy, and keeps key infrastructure working.<\/p>\n
Even in a global market, countries that rely less on imports are less vulnerable. That\u2019s exactly what domestic production does.<\/p>\n
Claim: 93% of UK North Sea oil and gas has already been extracted, so new drilling makes little difference.<\/p>\n
The reality:<\/p>\n
The UK Continental Shelf has already produced a huge amount of energy over the last 50 years. That much is not in dispute.<\/p>\n
What\u2019s often left out is what remains.<\/p>\n
Official projections show several billion barrels of oil and gas still expected to be produced between now and 2050. Independent analysis commissioned by OEUK shows that, with the right conditions, significantly more could be delivered from known projects and discoveries.<\/p>\n
And even beyond that, the UK\u2019s own regulator identifies large volumes of oil and gas in:<\/p>\n
\n\tapproved projects
\n\texisting discoveries
\n\tareas that haven\u2019t yet been developed
<\/p>\n
This isn\u2019t speculation. These are recognised resources.<\/p>\n
The real question isn\u2019t whether the UK will keep using oil and gas for a while longer. All credible pathways say we will. The question is where that supply comes from.<\/p>\n
A balanced approach<\/p>\n
The UK\u2019s energy transition requires:<\/p>\n
\n\taccelerating renewable energy,
\n\timproving energy efficiency,
\n\treducing demand,
\n\tand maintaining domestic supply while it is still needed.
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Presenting this as a choice between clean energy and UK production is a false choice.<\/p>\n
For transparent, up-to-date data on UK energy demand, production, imports and emissions, visit OEUK\u2019s Key Facts page:<\/p>\n
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\u00a0https:\/\/oeuk.org.uk\/who-we-are\/key-facts\/<\/a><\/p>\n