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Scottish independence: just one of the uncertainties facing the North Sea

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Report summary

On 18 September 2014, Scotland will decide in a referendum whether or not to stay in a United Kingdom. Although the oil and gas industry will be closely following the results of the referendum, companies are already facing a set of unprecedented challenges and changes on the UKCS. 

What's included

This report contains

  • Document

    Scottish independence: just one of the uncertainties facing the North Sea

    PDF 544.50 KB

Table of contents

  • Executive Summary
  • Context
    • The bulk of reserves would still lie in Scotland
    • and the Majors remain dominant
    • But there is an uncertain project pipeline
    • ...with decommissioning looming
  • Changes whatever the outcome
  • Ongoing issues mean predicting government take is challenging
  • Appendix

Tables and charts

This report includes 12 images and tables including:

Tables

  • Oil price assumptions (nominal)

Images

  • Projected level of government take: OBR vs Scottish Government*
  • Potential Borders
  • Split of commercial reserves: scenario 1*
  • Production from Scottish fields: scenario 1
  • Annual E&A activity and reserves discovered
  • 2012 view: Top 10 companies in Scotland by remaining value and reserves*
  • Scottish independence: just one of the uncertainties facing the North Sea: Image 6
  • Top 10 investors in Scotland by capex 2014-2017*
  • Estimated Scottish share of capex 2014-2017*
  • 2009 view of expected production in 2013 vs actual production in 2013
  • Effective cost of Scottish decommissioning relief

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