Study stresses value of UK technical reserves

Britain's most valuable remaining hydrocarbons lie with 'technical reserves' awaiting the right economic and technological conditions to be exploited. First Break reports on a new study by energy analyst Wood McKenzie. Is the opening up of the Atlantic Margin such a good deal? That is the question asked by energy analyst company Wood Mackenzie. In a new study it says that the development of the UK Continental Shelfís (UKCS) technical reserves provides 'a serious alternative to tackling the technological requirements of exploring new reserves, particularly in the frontier areas such as the Atlantic Margin. According to Wood Mackenzie technical reserves make up 22% of the remaining recoverable reserves in the UKCS. This amounts to some 4.8 billion barrels of oil equivalent (boe) out of the total remaining reserves figure of 21.6 billion boe. The technical reserves are thought to be split between some 2850 million barrels of recoverable liquids and 11.2 trillion ft3 of recoverable gas reserves.