The UK could unlock nearly double its current oil and gas production over the next quarter-century from the North Sea basin, according to the Offshore Energies UK (OEUK) lobby group. This significant potential hinges on substantial changes to fiscal and regulatory frameworks. OEUK's analysis, reported by Bloomberg, projects that without such reforms, production is expected to decline sharply.

The group argues that modernizing tax structures and streamlining permitting processes could unlock vast reserves currently deemed uneconomic. Nearly doubling output would represent a major shift for a sector facing steep declines and heightened competition from global energy transitions.