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UK Continental Shelf: Geology Prospects and Strategic Opportunities

Explore the mature petroleum province of the UK Continental Shelf with insights on structural elements, tectonic events, HC distribution, future activities, and potential plays. Discover the focus of future activity, like HPHT plays and deep basin prospects, alongside seismic data, license promotions, fiscal positions, and reasons to invest in the UKCS.

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UK Continental Shelf: Geology Prospects and Strategic Opportunities

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  1. The UK Continental Shelf – petroleum geology and future opportunities“Breathing new life into a mature province” Peter Haile and Jim Munns UK DTI AAPG Salt Lake City 13th May 2003 British Geological Survey

  2. UKCS Structural Elements

  3. Stratigraphy

  4. Structural Development Intraplate setting since Permian times: five main tectonic events control HC distribution • Permo-Triassic rifting and thermal subsidence • Middle Jurassic domal uplift • Late Jurassic to Early Cretaceous crustal extension • Post Rift thermal subsidence • Rifting on the Atlantic Margin

  5. Projected UKCS production from discovered reserves (mmboe)

  6. Exploration wells vs. oil price

  7. Some specific discoveries....

  8. Focus of future activity • Syn-rift Upper Jurassic combination /stratigraphic play at basin margin • Lower Cretaceous stratigraphic play • Deep basin axis HPHT play • Lower Permian Rotliegende pinchout play • Atlantic Margin Play • Palaeogeographic play

  9. Source Rock Distribution ? Jurassic mudstones Jurassic mudstones – uncertain distribution Carboniferous coal measures Carboniferous basinal mudstones Regional cross-section

  10. Central North Sea

  11. Upper Jurassic stratigraphic play

  12. Upper Jurassic stratigraphic play Instantaneous amplitude section: prospect 12/23. Updip pinchout of Ur Jurassic basin-floor sandstones Seismic line courtesy of Fugro-Geoteam AS

  13. Deep basin (HPHT) play 6km offset 2D Seismic Data data Acquired Q4 2000 'Seismic data sample supplied courtesy of Veritas DGC Limited'

  14. Atlantic Margin

  15. Atlantic Margin Play

  16. Promote Licence – tap into new thinking • Split 4 year Initial Term • First 2 years to enable work up of prospects and attract resource/commitment • Second 2 years to fulfil ‘significant activity’ – normally a well • Low cost • 10% of normal licence fee (first 2 years)

  17. 21st Round best since the 1970’s 1 4 7 2 • 30 Traditional • 40 Promote • 140 blocks bid • 75 companies • 36 new companies 5 3 6 2 8

  18. Fiscal Position • Corporation Tax 40% • Decreases • Removal of Royalty • Improved First Year Allowance • Tax reduction on new tariff business • Treasury consultation on stimulating exploration

  19. Summary – why the UKCS? • 10 BBOE plus Yet to Find • 2001 BUZZARD largest UKCS discovery since 1993 • Deep water Atlantic Margin under-explored • Subtle traps and non-conventional plays in the North Sea • 35% E&A well success rate

  20. Conclusions • Full spectrum of opportunities remain • Trying to make the UK a better place to do business – stable, responsive, transparent, competitive • Want to get licenses in hands of those who are ‘hungry and innovative’ – Brian Wilson (UK Energy Minister)

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