North Sea costs drop 40 per cent says Oil and Gas UK survey
Oil & Gas UK’s 2016 Activity Survey, published today (23 February), reveals that while the industry’s drive to improve efficiency, reduce operating costs and increase production has had marked success, exploration remains at an all-time low with no sign of improving.
Commenting on Oil and Gas UK's 2016 Activity Survey, chief executive of Scottish Enterprise and chair of the Energy Jobs Taskforce, Lena Wilson, said: "Whilst the improvement in its cost base is welcome, the activity report from Oil and Gas UK is further evidence of the continued challenging environment faced by our oil and gas sector today. The Taskforce remains fully committed to helping support the sector in Scotland, working with both companies and individuals to try and lessen the impact of the downturn in Scotland.
"The sector has had to adapt quickly over the last year and it is clear that it's still committed to innovating to drive cost efficiencies to help meet the North Sea challenges today and also ensure that it remains a world leading hub. Long term there is a need for sustained investment in the North Sea to help support the supply chain's ambitions both at home and abroad."
Contact Information
Julia McLaren
Engagement Partner
Scottish Enterprise
0300 013 3223
07801 794046