Economic Report 2017
Although the aǀerage UO aƉƉears relatiǀely high in the UK at Ψ1ϱ͘ϯ0ͬďoe, this includes the cost oĨ oƉerating an e x t e nsiv e ne t w or k of m idst r e am infr ast r uct ur e and onsh or e t e r m inals t h at ge ne r at e a m uch h igh e r com p one nt oĨ oƉerating edžƉenditure than in other less comƉledž ďasins͘ then looŬing solely at Ɖroducing Ĩields, the ǁeightedͲaǀerage UO oĨ the UK ^ ǁas Ψ1ϯ͘20ͬďoe in 201ϲ͘ The median aǀerage Ĩield UO is eǀen loǁer, at ũust oǀer Ψ10ͬďoe, indicating that a small numďer oĨ assets ǁith a ǀery high UO sŬeǁ the mean͘ Indeed, oǀer tǁoͲthirds oĨ UK ^ assets, accountaďle Ĩor almost threeͲƋuarters oĨ Ɖroduction, ǁere oƉerating at under Ψ1ϱͬďoe in 201ϲ͘
1
2
Figure 23: UKCS Field Level Unit Operating Costs, Mean versus Median, 2016
3
100%
9 0%
4
8 0%
UKCS Mean Weighted- Av erage UOC ( producing assets only )
7 0%
UKCS Median Av erage UOC ( producing assets only )
5 6 7 8
6 0%
Cumulativ e Proportion of Total UKCS Production
5 0%
4 0%
3 0%
Proportion of UKCS Production
2 0%
10%
0%
0 5 10 15
2 0 2 5
3 0 3 5
4 0 4 5
5 0 5 5
6 0 6 5
7 0 7 5
8 0 8 5
9 0 9 5 100
Unit Operating Cost ( $ / boe)
Source: Oil & Gas UK
9
10
11
4 7
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