Economic Report 2013

Contents

1.

Foreword

4

2.

Industry at a Glance

6

3.

Oil and Gas Markets

10

4.

The UK’s Continental Shelf

14

5.

Case Studies of New Investment – Cygnus and Montrose-Arbroath

34

6.

Fiscal Policy

42

7.

The Supply Chain, Employment and Skills

48

8.

Energy Policy and Security of Supply

60

9. a. b. c.

Appendices

70 71 72 73

Oil & Gas UK’s Membership

Field Allowances

Glossary of Terms and Abbreviations

3

ECONOMIC REPORT 2013