Business Outlook 2017

a. Including geological sidetracks but not mechanical sidetracks or respuds. b. All data shown in 2016 money. c. Refers to the average unit development costs of projects approved within year. d. 2016 and 2017 may not fully represent the long-term outlook due to the nature and low number of field approvals.

Forecast

‘13 ‘14 ‘15 ‘16 ‘17

2

13

4

8

9

13-18

New Field Start-Ups

+63% -69% +100% +13% +67%

10

8

5

2

4-6

New Field Approvals

-52% -20% -38% -60% +150%

14.6 15 11.7 8.3

6.4-6.9

Capital Expenditure (£ billion) b

+26% +3% -22% -29% -20%

30.60 23.90 15.20 12.70 d 8-10 d

Unit Development Costs ($/barrel of oil equivalent) b,c

-29%

+41% -22% -36% -16%

9.2 9.8 8.3

7

7-7.5

Operational Expenditure (£ billion) b

+18% +7% -15% -16% +5%

26.30 29.70 21.10 15.30 14.10-14.60

Unit Operating Costs ($/barrel of oil equivalent) b

+26% +13% -29% -27% -6%

1.1

1

1.1

1.2

1.9

Decommissioning Spend (£ billion) b

+55% -9% +10% +9% +58%

40.5 41.3 36.1 28.3

27.4

Supply Chain Revenues (£ billion) b

+11% +2% -13% -22% -3%

7