Economic Report 2017

1

Capital Investment

Unit Development Costs

3 5

16

aƉital eĸciency im p r ov e m e nt s and edžecution oĨ smaller Ɖroũects haǀe driǀen t h e av e r age cost of ne w de v e lop m e nt s t o around Ψ1ϯͬďoe in 2016

C ap it al e x p e ndit ur e w as άϴ͘ϯ ďillion in 201ϲ, dow n fr om a h igh of £ 15 b illion in 2014

14

3 0

2

12

2 5 )eob/ $ ( stsoC tnempoleve D tinU

10 )noillib £ ( erutidnepx E latipaC

2 0

2 4 6 8

15

3

10

5

0

0

2 013

2 014

2 015

2 016

2 017

2 018

2 013

2 014

2 015

2 016

2 017

2 018

Source:Oil&GasUK

Source:Oil&GasUK

4

5 6 7 8

Operating Expenditure

Unit Operating Costs

Unit oƉerating cost s h av e h alv e d since 201ϰ, doǁn to Ψ1ϱͬďoe in 2016

OƉerational e x p e ndit ur e fe ll t o ar ound £ 7 b illion in 201ϲ, a ϯ0 Ɖer cent reduction since 2014

3 5

12

3 0

10

)noillib £ ( erutidnepx E lanoitarepO

2 5

)eob/ $ ( stsoC gnitarepO tinU

2 4 6 8

2 0

15

10

5

0

0

2 013

2 014

2 015

2 016

2 017

2 018

2 013

2 014

2 015

2 016

2 017

2 018

Source:Oil&GasUK

Source:Oil&GasUK

9

10

11

4 1

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