Economics professor A. Kemp (University of Aberdeen) expects 2000 to be just as challenging to the UK petroleum industry as 1999 was. Although record production increases are expected to continue in 1999, with combined crude and condensate output expected to peak at some 3 million b/d and gas production seen to grow even faster, the UK government needs to go further than its previous amendment of the licensing and regulatory system to be able to address other industry concerns, including the problems of maturity in relatively high-cost areas and the need to boost research and development efforts to help the sector maintain its key position in the petroleum global arena.
|Number of pages||2|
|Specialist publication||World Oil|
|Publication status||Published - 1 Dec 1999|