WIRELINE ISSUE 33 AUTUMN 2015

FUTURE OPPORTUNITY > Maximising the recovery of our oil and gas resource will strengthen the country’s energy security, boost tax revenues, exports and the balance of payments, as well as sustain high value activity and jobs in our world-class supply chain. “ ”

Download the report at www.oilandgasuk.co.uk/economicreport

In 2030, 70 per cent of the UK’s total primary

Up to 22 billion barrels of oil equivalent remain to be extracted from the 22 billion

from oil and gas

approach to maximising economic recovery by the industry, Oil and Gas Authority and HM Treasury is crucial

70%

CHALLENGES >

80% to 60% b

50%

from 80 to 60 per cent between 2004 and 2012

The oil price has more than halved since Summer 2014

by one third since 2011 to £9.7 billion in 2014

1 4

T H E M A G A Z I N E F O R T H E U K O F F S H O R E O I L A N D G A S I N D U S T R Y