Declining output from the North Sea. (Energy Indicators).(Brief Article)(Statistical Data Included)

The North Sea holds Europe's largest oil and natural gas reserves and is one of the world's key non-OPEC producing regions. Norway and the United Kingdom hold the majority of the North Sea's reserves and production. Denmark, the Netherlands, and Germany have smaller North Sea oil and gas holdings.

North Sea oil and natural gas were first discovered in the 1960s. The North Sea did not emerge immediately as a key non-OPEC off producing area, but output grew as major discoveries continued throughout the 1980s and into the 1990s. Production in the inhospitable climate--cold, windy, and at great depths--relies on sophisticated offshore technology. Consequently, the region …