Economic Report 2021 - OGUK

The Checkpoint must be implemented in a consistent, sustainable and fit-for-purpose way to ensure ongoing investor confidence as companies transition into new opportunities. This will ensure we can continue to meet the UK’s energy needs in a manner compatible with actions to combat climate change. As the UK unlocks the exploration potential offered by the UKCS, it will all be within the Climate Compatibility Checkpoints being put in place and the CCC and OGA estimate for production and emissions.


UKCS Production Efficiency maintained at 80% in 2020

£11 barrel

Operating Costs – £11/barrel

£1.40 barrel 95%

Finding Costs – £1.40/barrel

95% of prospects in the UKCS are within 45km of a hub currently in production or coming online within the next 10 years

Source: OGUK, Westwood


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