Business Outlook 2022

three weeks in May and June 2021 and fields that produce through this route had to shut in production. Other pipeline and processing systems linked to FPS, such as the Graben Area Export Line, also planned outages to coincide with this period. While lower production is normal on the UKCS in summer, the level of reduction last year exceeds the norm owing to the scale of the outages. Overall, there was a reduction in UKCS daily output of more than 40%

between March and June. In 2020 the summer output reduction was around 5% (as companies looked to defer activity owing to Covid controls) and in 2019 production declined by less than a fifth during the summer maintenance period – which is more in line with the average dip.

Figure 8: Monthly UK Oil and Gas Production Source: BEIS

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Gas Production Oil Production

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40

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Monthly Oil and Gas production (million boe)

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Source: BEIS

BUSINESS OUTLOOK 2022

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