The Courier & Advertiser (Perth and Perthshire Edition)
UK oil and gas reserves ‘will expire in 10 years’.
Research urges government to look at renewable sources of energy
The UK’s oil industry could be entering its final decade of production, according to new research.
A study of output from offshore fields estimates about 10% of the nation’s original recoverable oil and gas remains.
The research predicts both oil and gas reserves – standing at 11% and 9% respectively – will run out within 10 years.
If the predictions are correct, the UK would soon have to import all the oil and gas it needs, scientists have warned.
Academics behind the work are now urging the UK Government to use more renewable energy sources, particularly offshore wind and advanced solar energy technologies.
Professor Roy Thompson from Edinburgh University’s School of GeoSciences, who led the study, said: “The UK urgently needs a bold energy transition plan, instead of trusting to dwindling fossil fuel reserves and possible fracking.
“We must act now and drive the necessary shift to a clean economy.
“There needs to be greater emphasis on renewables, energy storage and improved insulation and energy efficiencies.”
The study, published in The Edinburgh Geologist, found the UK has small potential for fracking.
This was because many possible sites are in densely populated areas, with low quality source rocks and complex geological histories.
Analysis of hydrocarbon reserves shows discoveries have consistently lagged behind output since the industry’s peak in the late 1990s.
Scottish Conservative energy spokesman Alexander Burnett said: “If this turns out to be the case, it will be devastating for the north-east economy.
“It’s now more essential than ever that both the Scottish and UK governments work together to maximise what’s left in the North Sea and assist those who’ve suffered as a result of the downturn.”
A Scottish Government spokeswoman said: “The future for renewable energy is bright in Scotland and we have a record on growing the sector of which we are proud.
“Scotland’s offshore oil and gas industry also has a bright future and, with the right regulatory and fiscal environment, the basin has up to 20 billion barrels of oil equivalent remaining. This year has seen one of the biggest new discoveries of untapped oil in recent times.
“However, it is the UK Government which retains most of the policy responsibility for the industry and which must use those powers to create the appropriate climate to protect jobs and investment.”