In order to extend the life of the existing oilfields, new technology is being used to minimise the cost of the discovery and production of oil and gas. Over the last decade, oil and gas companies have undergone considerable rises in service, production, drilling and operating costs. The increased complexity of operations renders them costly, along with a series of global financial factors.
The UK has promised to cut carbon emissions by at least 80% by 2050. This means that the country is expected to achieve a reduction of greenhouse emissions by 29% until 2020.