Economic Report 2017

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

New Field Start-Ups

New Field Approvals

12

16

Only t w o ne w Įelds ǁere aƉƉroǀed in 201ϲ, t h e low e st on r e cor d

Eine neǁ Įelds, or signiĮcant redeǀeloƉments, st ar t e d in 2016

14

10

12

2 4 6 8

10

slavorppA dlei F we N

spU tratS dlei F we N

2 4 6 8

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,OGA

Source:Oil&GasUK,OGA

Decommissioning Expenditure

Supply Chain Revenue

Sup p ly ch ain r e v e nue fe ll

4 5

2

fr om £ 41.3 b illion in 2014 t o ar ound £ 28 b illion in 2016

4 0

1. 8

1. 6

3 5

1. 4

3 0

0. 4 D ecommissioning E x penditure ( £ billion) 0. 6 0. 8 1 1. 2

10 Supply Chain R ev enue ( £ billion) 15 2 0 2 5

D e com m issioning is t h e only gr ow ing area oĨ edžƉenditure, w it h £ 1.2 b illion sp e nt in 2016

5

0. 2

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: E Y ,Oil&GasUK

Source:Oil&GasUK

4 2