Scotland business

North Sea oil production 'will rise but then decline'

Oil production in the North Sea is expected to rise over the next few years before declining, according to a report.

Professor Alex Kemp said production was expected to increase between now and 2015, before a longer-term decline in production over the next 30 years.

Prof Kemp said on current trends and performance, the ultimate potential would not be achieved over the next 30 years or even by 2050.

He cited a need for more exploration.

A Scottish government spokesman said: "Scotland's oil and gas sector leads the world.

"With more than half of the value of the North Sea's oil and gas reserves yet to be extracted, oil and gas will remain an enormous economic resource for decades to come."

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