Tax or technology? : the revival of UK North Sea oil production

Working paper

Oil production in the UK North Sea reached a peak of 2.63 million b/d in 1985. As widely predicted in the 1970s and early 1980s, output then declined sharply, down to 1.8 million b/d in 1991. The surprising feature of subsequent production development was a resumption of growth after the 1991 trough to a new peak of 2.49 million b/d in 1995.

Authors: Martin, S

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies
• Series: OIES paper
• Publication date: 1997-01-01
• Edition: Publisher's version
• Paper number: SP8
• ISBN: 1901795004
• Language: English
• Keywords: fiscal regime; oil production; oil output; changes; the North Sea; internal rate of return; fiscal relaxation; tax; OIES; UK; new technology