Main Report

Index

Foreword

Contribution to the Economy

• Oil and Gas Production
• Capital Investment, Expenditure & Gross Value Added
• Tax revenues
• Balance of Trade

UK Offshore Oil and Gas Industry Overview

• Introduction
• Creating a Vibrant Energy Industry
• Supply Chain Structure
• Supply Chain Segmentation
• Exports by The UK's Oil & Gas Supply Chain
• Employment
• Developing New Talent
• Regional Distribution of Employment
• Case Study 1: Strong Foundations on the UKCS Enabling Companies to Export Their Experties
• Case Study 2: Using Standard Codes of Practice and supporting Documention to Accelerate Tendering and the Pace of New Developments

Providing the UK´s Energy Needs

• Primary Energy Demand
• Electricity Generation
• Security of Supply

Oil and Gas Markets

• Oil Prices
• Gas Market and Prices

Outlook for the UKCS in 2008

• Industry Fundamentals
• UKCS Oil and Gas Production
• Oil Production
• Gas Production
• Expenditure
• Capital Expenditure
• Operating Costs
• Unit Technical Costs
• Drilling
• New Developments
• Case Study 3: The rapid development of the HPHT Jura Field in the Northern North Sea highlights the UK’s sub-sea capabilities which are increasingly being used by E&P companies, both here and internationally
• UKCS Players and Commercial Activity

Stewardship of the UK's Oil and Gas Resources

Asset Integrity in the UKCS

• What are Companies Doing to Extend the Life of Existing Installations?

Fiscal Environment

Meeting the Decommissioning Challenge

• Introduction
• Decommissioning Cost Outlook
• Decommissioning Regulation, Funding and Securitisation
• Provision of Decommissioning Security
• Recent Changes to the Fiscal Regime have been Helpful
• Further Changes to the Regulatory Regime are Required

EU Emissions Trading Scheme

Carbon Capture and Storage

• Introduction
• Current Programmes
• Economic Challenges Ahead
• CCS Projects will have to be Viable in their own Right

Appendix

A. UKCS Fiscal Regime
B. Glossary of Terms and Abbreviations
C. Initiatives to Promote the UKCS