Workforce Report 2018
Industry Expenditure Total industry expenditure was £15.7 billion in 2017, down from £16.9 billion in 2016 and less than half the level of 2013, as companies have adapted to the challenging business conditions. Capital expenditure has fallen by almost two-thirds since 2014, to £5.6 billion in 2017. This is due to ongoing projects reaching the end of their development phase, the limited number of new field approvals and efficiency gains in existing ongoing developments.
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Figure 10: Number of Core Workers versus Total Expenditure
Total Expenditure Core Workforce
3
30
35,000
30,000
25
4
25,000
20
)yenoM 7102( noilliB £
20,000
15
5
15,000
10
Total Personnel
10,000
6
5
5,000
0
0
7
2012
2013
2014
2015
2016
2017
Source: Vantage POB, OIl & Gas UK
For the first time in three years operating expenditure per core offshore worker increased slightly in 2017, as operating expenditure stabilised at £7 billion and the workforce continued to decline. However, operating expenditure per worker remains at one of the lowest levels since 2008.
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9
10
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