Feb 28 2023
The North Sea is one of the world's most significant oil and gas producing regions. With an estimated 21 billion barrels of oil equivalent reserves the basin after almost 50 years of development continues to be an important supplier of crude for European refiners and the continent's most reliable source of natural gas to guarantee energy security.
As the world accelerates its ambition to achieve net zero, there is growing interest in understanding the relative greenhouse gas (GHG) competitiveness of upstream oil and gas. This insight explores the range and character of the GHG intensity of North Sea production. It is the first in a series of analyses of new emission datasets from S&P Global Commodity Insights.