| answer text |
<p>According to data published by the Oil and Gas Authority in 2021 (based on 2020
data) and set out on the North Sea Transition Authority’s website, oil reserves and
resources in the UK Continental Shelf stand at 7.9 billion barrels of oil equivalent,
as well as 560 billion cubic metres of gas, based on ‘probable’, ‘proven’ and ‘contingent’
reserves and resources. It is not possible to say with certainty how much of this
could or will be extracted, as this will be driven by a range of commercial and regulatory
factors, however UK oil and gas production is expected to decline over time in line
with the natural decline of the UK Continental Shelf basin coupled with a decrease
in domestic demand for natural gas. The Oil and Gas Authority has published a report
titled “UK Oil and Gas Reserves and Resources Report 2021” on their website which
includes further information on UK reserves and resources.</p><p> </p><p>As set out
on the British Geological Society’s website, estimates of the total gas-in-place for
the Bowland Shale Formation and Hodder Mudstone Formation vary. Initial estimates
were between 822 and 2281 trillion cubic feet (tcf). However, other estimates have
suggested the total gas-in-place volume could be considerably less, around 140 tcf.</p><p>
</p><p>The Government has been clear that shale gas development must be safe and sustainable
– both for local communities and the environment. On the basis of the current scientific
evidence, the Government has confirmed that it will take a presumption against issuing
any further Hydraulic Fracturing Consents, which are required before hydraulic fracturing
operations can take place. Even if the current moratorium were lifted, development
would also need to secure environmental permitting and planning consents, and it would
take some years of exploration and development before commercial quantities of gas
could be produced.</p>
|
|
