Economic Report 2017

E C ONOM IC R E P OR T 2 0 1 7

Contents

1. 2. 3.

Foreword

4 6 8 9

Industry at a Glance Economic Contribution

3.1 3.2

T h e UK E ne r gy M ix

T h e R ole for Oil and Gas in t h e L ow e r - C ar b on E conom y

12

3.3 3.4

T ot al E m p loy m e nt

15 17

R e gional C e nt r e s of E x ce lle nce

4.

The Business Environment

22 23

4.1 4.2

Oil and Gas M ar ke t s

Im p act of Br e x it

27

5.

Creating a Long-Term Future

33 34

5 .1 5 .2

V ision 2035

D e liv e r ing t h e V ision

35

6.

UK Continental Shelf Performance and Opportunity

39 40

6 .1 6 .2 6 .3 6 .4

Ke y P e r for m ance Indicat or s Glob al C om p e t it iv e ne ss T h e E fficie ncy T ask F or ce

45

5 1

F iscal P olicy

5 5 5 8

6 .5 6 .6

M e r ge r s and A cq uisit ions Inv e st or C ase St udie s

6 0

3