Oil & Gas UK Economic Report 2014

Figure 34: Exploration Wells Drilled, including Sidetracks

50

45

Exploration Sidetracks Exploration Wells

40

1

35

30

2

25

20

3

15

10

Number of Wells Drilled including Sidetracks

5

4

0

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Source: DECC

5

6

Figure 35: Production Efficiency and Production from 2004 to 2013

90%

4.0

Production Efficiency (Left Hand Scale) Production (Right Hand Scale)

7

80%

3.5

70%

3.0

8

60%

2.5

50%

2.0

40%

1.5

30%

Production Efficiency

Production (Million boepd)

1.0

20%

0.5

10%

0%

0.0

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Source: DECC, Oil & Gas UK

59

ECONOMIC REPORT 2014