Decommissioning Insight 2018

5.5 Vision 2035

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Vision 2035 sets out the potential opportunity for industry and identifies how it can be secured. The Vision has two key themes:

• To add a new generation of productive life to the basin • Doubling the long-term opportunities for the supply chain at home and abroad

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Decommissioning excellence is central to delivering Vision 2035 as one of the key elements sitting beside exploration and production activities. As a mature basin, the shared aim to realise MER will only be achieved if we are excellent in all of these activities.

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Achieving the ambition outlined in the Vision will mean that, in 2035, the UKCS will continue to produce at least 1.1 million boe per day. To realise this, it will be crucial to build upon the efficiencies and operational improvements seen in recent years to ensure that assets do not cease production prematurely and that key infrastructure remains available to process and transport production ashore. Maintaining attractive investment conditions – the effective management of decommissioning liabilities being a key aspect of this – is critical to attracting new capital to the basin. Vision 2035 includes the aim of doubling the UK supply chain’s share of the global oilfield goods and services market. In order to achieve this, it is essential that the supply chain has a competitive edge and maximises the opportunity presented by decommissioning activity.

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