Key facts
Offshore energy in numbers
The UK offshore energy industry is critical to our economic and environmental prosperity.
It is driven by skilled professionals who work to power our homes, our transport, our industries and our everyday products. This industry contributes significantly to our economy, providing secure jobs and reliable energy, while making great strides to a sustainable future.
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01.
The offshore industry could invest around £450bn between now and 2040.
This is needed to responsibly manage our oil and gas supplies, whilst expanding offshore wind capacity and kickstarting carbon storage and low carbon hydrogen production.
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02.
The capabilities developed through supporting oil and gas production mean that the supply chain can meet 60-80% of the requirements of the floating offshore wind, CCS and hydrogen sector.
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03.
Oil and gas production supports over 200,000 jobs in the UK, of which around 84,000 are in Scotland
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04.
In 2023, the sector added around £25bn to the UK economy.
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05.
Offshore oil and gas has reduced its impact on the environment by 28% since 2018 (scope 1 & 2 emissions).
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06.
Oil and gas will still provide 50% of our energy needs in the mid-2030s. This is estimated to fall to 22% by 2050.
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07.
Electricity will become the largest energy source, driven by offshore wind.
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08.
Oil and gas decommissioning is increasing, costing an average of £2bn per year over the next decade, and removing more than 1.7 million tonnes of infrastructure from the North Sea.