Activity Survey 2014

ACTIVITY SURVEY 2014

Of the 19 fields with a UOC of greater than £30 per boe, 18 are located in the central or northern North Sea whereas only one is located in the southern North Sea. This is reflected in Figure 22 which shows that the northern North Sea is expected to continue to be the most expensive place to operate until the end of the decade. Unit costs in the west of Shetland area are expected to fall the most over the next five years as production from the region picks up as new developments come on-stream.

Figure 22: Forecast of Unit Operating Costs by Region

30

CNS IS NNS SNS W of S

25

20

15

10

Unit Operating Costs (£/boe)

5

0

2013

2014

2015

2016

2017

2018

Source: Oil & Gas UK

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