WIRELINE ISSUE 31 SPRING 2015

Activity Survey 2015 Wireline presents some of the key facts and figures from Oil & Gas UK’s Activity Survey 2015 plus a Q&A with economics and commercial director Mike Tholen.

The UK Continental Shelf Activity Survey 2015 UK Continental Shelf Key facts – 2014 performance (unless otherwise stated)

£24.4 billion

£9.6 billion

£14.8 billion of capital invested £ £ 1 4 . 8 b i l l i o n

£ deco the £

Industry delivered £24.4 billion of production revenues - the lowest since 1998

£9.6 billion was spent on operating the UK Continental Shelf last year, almost eight per cent higher than in 2013

14 /25

£18.50/boe

8 new fields

Just

£17/boe

£18.50/boe

Only wells a in 201 add

Unit operating costs increased last year, up to £18.50/boe from £17/boe in 2013

Only 14 of the expected 25 exploration wells were actually drilled - continuing a downward trend since 2009

Eight new fields sanctioned alongside 28 brownfield opportunities

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T H E M A G A Z I N E F O R T H E U K O F F S H O R E O I L A N D G A S I N D U S T R Y