Oil & Gas UK Economic Report 2014

Figure 8: UK Continental Shelf Production Decline Curve

4.0

- 10.1%

3.5

1

-4.6%

3.0

-9.6%

-9.4%

-5.1%

2.5

2

- 19.2%

-6.5%

2.0

-7.7%

-14.5%

1.5

3

1.0

Oil and Gas Production (Million boepd)

0.5

4

0.0

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Source: DECC, Oil & Gas UK

5

Figure 9: Production Changes from 2012 to 2013

6

1.8

Increased Production from 2012-2013 Start-ups and Re-starts

Production Decline in Existing Fields

7

1.6

Fields Shut-in/Cessation of Production

-0.17

1.4

0.07

-0.02

8

1.2

1

1.44

1.56

0.8

2013 Production

2012 Production

0.6

Production (Million boepd)

0.4

0.2

0

Source: DECC, Oil & Gas UK

31

ECONOMIC REPORT 2014