Economic Report 2016 - Oil & Gas UK

ECONOMIC REPORT 2016

Contents

1. 2. 3. 4. 5.

Foreword

4 6

Industry at a Glance Prices and Markets

10 20 24 24 28 33 42 44 46 62 67 71 77 81

Profitability and Corporate Finance Upstream Performance Indicators

5.1 5.2 5.3 5.4 5.5

Resources/Reserves Drilling Activity Total Expenditure

Production

Decommissioning

6. 7. 8. 9.

Supply Chain Employment

The Efficiency Task Force

Comparisons and Contrasts – the UK and Norwegian Continental Shelves

10. The Upstream Fiscal Regime

11. Glossary

3