Business Outlook 2018

Figure 20: Unit Operating Costs

1

35

Unit Operating Costs (£ per boe)

Unit Operating Costs ($ per boe)

30

2

25

20

3

15

Unit Operating Costs (2017 Money)

4

10

5

5

0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

6

Source: Oil & Gas UK, OGA

The work of Oil & Gas UK’s Efficiency Task Force (ETF) is acting as a catalyst to ensure that a sustainable change in behaviours by working smarter and more collaboratively is embedded across the UKCS.

7

The ETF is focused on driving cultural change throughout the oil and gas industry, both within E&P companies and across their supply chain. A network of over 150 efficiency champions are active within companies and a series of Efficiency Roadshows are being held to engage directly with employees on the need for continued, sustainable, change across industry. The online Efficiency Hub 9 was launched in 2017 to promote the extensive cross-industry work. It contains over 100 case studies outlining how companies have made significant efforts to improve their operations, challenge old habits and find new ways of working. The Hub also hosts outputs from work groups and projects focused on the ETF’s three themes: business processes, standardisation and simplification, and co-operation, culture and behaviours.

8

9

10

11

9 See www.oilandgasuk.co.uk/efficiency

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