North Sea oil projects to start up 2017-2019

LONDON: New oil projects in the North Sea aim to add 1.2 million barrels per day (bpd) of new capacity, a level that will more than offset declining output from old fields, Reuters research shows.

North Sea output now stands at 2 million bpd. Taking into account declining production from older fields, the net increase in overall output is expected to be 400,000 bpd in the next two years, according to investment bank Tudor, Pickering, Holt & Co.