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ARTICLE · 16 FEBRUARY 2026

Energy – Oil & Gas Comparative Guide

Bracewell LLP
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The UK has a well-established upstream oil and gas industry, with commercial production from the UK Continental Shelf (UKCS) since the 1960s.

United KingdomEnergy and Natural Resources
Darren Spalding
Darren Spalding
Kirsty Delaney
Kirsty Delaney

1. Does your jurisdiction have an established upstream oil and gas industry? What are the current production levels and what are the oil and gas reserve levels?

The UK has a well-established upstream oil and gas industry, with commercial production from the UK Continental Shelf (UKCS) since the 1960s. By the end of 2024, all-time cumulative production of oil and gas from the UKCS reached 47.7 billion barrels of oil equivalent (boe).

Although UK production has been in gradual decline since its peak in 1999 (for crude) / 2000 (for natural gas), the UK's independent regulator, the North Sea Transition Authority (NSTA), estimates proven and probable (2P) UK reserves as at the end of 2024 to be 2.9 billion boe. This is 0.4 billion boe lower than as at the end of 2023 due to production during 2024 not being offset by approval of incremental projects in producing fields. However, prospective resources (undiscovered potentially recoverable resources) are up by 31% from

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