Economic Report 2021 - OGUK

ECONOMIC REPORT 2021

Glossary

Boe(pd)

Barrel of oil equivalent (per day)

Break-Even Costs

The level required for a development to be cash-neutral, covering the cost of developing and operating a field

Brownfield

An oil or gas field already in production Carbon, capture, usage and storage

CCUS

Contingent Resources

Volumes which are potentially recoverable, but not yet mature enough for development

CoP DRD

Cessation of production

Decommissioning Relief Deed

EBITDA

Earnings before interest, taxes, depreciation, and amortization

FID

Final Investment Decision

Greenfield

An oil or gas development not yet in production

M&A Mtoe NSTD OGA OPEC

Mergers and acquisitions

Million tonnes of oil equivalent

North Sea Transition Deal Oil and Gas Authority

The Organization of the Petroleum Exporting Countries

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