Commenting on OGA’s report published today on UKCS operating costs, Oil & Gas UK’s Market Intelligence Manager, Ross Dornan, said:
“The UK Continental Shelf (UKCS) is a more attractive investment proposition today which is evidenced by recent commitments and discoveries – our challenge now is to encourage continued investment in the basin going forward into next year and beyond.
“As our recent Economic Report highlighted, although the cost of production is an important component in driving competitiveness, it is just one factor among other influences. These also include our people and skills, a robust supply chain and infrastructure network, as well as a competitive and predictable fiscal regime, which all underpin the success of the industry on a global scale.
“To achieve this, we have to drive an increase in activity while continuing to find and implement even more efficient ways of working. The skills and services that exist within the supply chain will be fundamental in driving these efforts, as set out in Vision 2035.”