New Oil Field Found in the North Sea
Posted on: 03/11/2014

Last week major oil companies BP and GF Suez announced that they had found a new oil field in the UK’s continental shelf.

Preliminary flow tests of the find have revealed a maximum rate of 5,350 barrels per day, with predictions of the field suggesting a total potential of 50 million barrels. Considering that the North Sea has been producing oil for over 40 years this is a substantial discovery and has been described by Rudd Zoon, Managing Director of GDF Suez E & P UK Ltd as encouraging evidence that this mature basin is not near the end.

Whilst new oil fields are considered by many as positive, this particular find has caused some argument within Scotland as members of the NO party have been accused of misleading the public dramatically about the state of the North Sea during the referendum in order to secure votes against an independent Scotland. During the campaign the NO party emphasised that the North Sea was a mature basin of limited value thus would be restricted in its ability to support an independent Scotland, therefore the members of the YES party have demanded that retractions and apologies be made for these statements as they claim the North Sea continues to prove it could have been a key economic provider to an independent Scotland.

Despite the problems which may have arisen in Scotland, this oil discovery is very encouraging news for the whole of the UK. Extraction of the oil will lead to the creation of hundreds of job opportunities directly, and many more through the supply chain. Furthermore it allows the UK to remain as a provider of oil, allowing for self-reliance of oil and gas, something which will always be beneficial.

Developments relating to North Sea Oil are of huge importance to us here at Blueprint and this find, just as the new research into extraction methods last month, stands as strong encouragement that the North Sea Oil is not depleting and instead looks likely to uphold as a stable provider for many years to come.

To see what opportunities we currently have within the oil and gas sector visit our jobs pages and follow us on Twitter @BlueprintOnG

You can also give us a call today on 02392 603030 for a chat in confidence.

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