Workforce Report 2018

Industry Expenditure Total industry expenditure was £15.7 billion in 2017, down from £16.9 billion in 2016 and less than half the level of 2013, as companies have adapted to the challenging business conditions. Capital expenditure has fallen by almost two-thirds since 2014, to £5.6 billion in 2017. This is due to ongoing projects reaching the end of their development phase, the limited number of new field approvals and efficiency gains in existing ongoing developments.

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Figure 10: Number of Core Workers versus Total Expenditure

Total Expenditure Core Workforce

3

30

35,000

30,000

25

4

25,000

20

)yenoM 7102( noilliB £

20,000

15

5

15,000

10

Total Personnel

10,000

6

5

5,000

0

0

7

2012

2013

2014

2015

2016

2017

Source: Vantage POB, OIl & Gas UK

For the first time in three years operating expenditure per core offshore worker increased slightly in 2017, as operating expenditure stabilised at £7 billion and the workforce continued to decline. However, operating expenditure per worker remains at one of the lowest levels since 2008.

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9

10

11

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