Economic Report 2013

Figure 15: Investment in Assets Operated by the Majors as a Proportion of Total Investment

16

14

12

10

8

Total Capital Investment on the UKCS

6

4

Total Capital Investment in Assets Operated by Majors

2

0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Capital Investment (£ billion) Money of the Day

Source: Oil & Gas UK

Figure 16: Average Annual Unit Development Costs for Projects Approved since 2005

18

16

2 Average Annual Unit Development Costs (£/boe ) 4 6 8 10 12 14

Unit Development Cost (£/boe)

Exponential Trendline

0

2005 2006 2007 2008 2009 2010 2011 2012 2013

(to 1 July) Source: DECC, Oil & Gas UK

Year of Project Approval

25

ECONOMIC REPORT 2013