From the first discoveries in the 1960s to today’s fierce political battles, the story of North Sea oil is the story of modern Britain. Explore the data, the history and the debate.
North Sea oil refers to the vast reserves of crude oil and natural gas found beneath the seabed of the North Sea, primarily within the exclusive economic zones of the United Kingdom and Norway, with smaller contributions from Denmark, the Netherlands and Germany. The Brent crude oil benchmark, one of the world's principal oil pricing references, takes its name from the Brent field discovered in UK waters in 1971.
Since commercial extraction began in the mid-1970s, the UK Continental Shelf (UKCS) alone has produced 47.7 billion barrels of oil equivalent. The industry transformed the British economy throughout the 1980s and 1990s, generating hundreds of billions of pounds in tax revenue and at its peak supplying more oil than the country consumed.
UK production peaked in 1999 at approximately 4.5 million barrels of oil equivalent per day. By 2024, output had fallen to around 1.09 million boe per day – a decline of more than 75%. According to the North Sea Transition Authority (NSTA), proven and probable reserves stand at just 2.9 billion boe, with a further 6.2 billion boe classified as contingent resources from discovered but undeveloped fields.
Analysis published by the Energy and Climate Intelligence Unit in March 2026 found that 93% of the oil and gas likely to be produced from the North Sea has already been extracted, with new drilling projected to add only around 1.7% to the historical total.
The North Sea is at the centre of an increasingly heated political argument. In May 2026, the Labour government introduced the Energy Independence Bill to permanently ban new exploration licences. Meanwhile, US President Donald Trump has publicly urged Britain to expand North Sea drilling, posting on Truth Social that it is “absolutely crazy” the UK does not exploit its reserves more aggressively. The Conservatives and Reform UK have both pledged to reverse the ban if elected.