Research presentation
| |
23 Pages

Outlook for the UKCS

Outlook for the UKCS

Report summary

The UKCS is a critical juncture. Recent exploration has been disappointing, with poor exploration success rates and volumes discovered at levels below commercial thresholds.

This, along with high costs, contributed to a declining capital investment outlook, even before the slump in oil price. Following the drop in oil price, we present our revised outlook for capital spend and assess how robust the pre-sanction projects underpinning this profile are.

Positively, production stabilised in 2014 and we expect a modest rise out to around 2018 as some key new projects are brought onstream. However, downside risk remains from delays to new project sanctions, poor project execution and exploration success.

The decommissioning glut is looming. We estimate that around £3 billion has been spend on decommissioning so far, with £54 billion still to be spent.

What's included?

This report includes 1 file(s)

  • Outlook for the UKCS.pdf PDF - 1.10 MB 23 Pages, 0 Tables, 0 Figures


This Research Presentation provides a visual overview of the key issues surrounding this topic.

Participants, suppliers and advisors can use our report to better understand the trends, risks and implications of this topic on the upstream oil and gas industry.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.