Financial
In 2014 companies invested £14.8bn in new infrastructure
And spent £9.6bn operating it’s installations
Since 1970, the Oil & Gas Industry has paid nearly 1/3 of a trillion pounds in taxes
Energy
97% of the UK’s transport sector relies on Oil
By 2030, 70% of the UK’s total energy is still expected to come from Oil & Gas
The UK produces 1.42 million barrels of oil a year and is forecast to increase in 2015 for the first time in 15 years
Estimated to be 22 billion barrels of oil left in the UK’s offshore areas
Major Employer
400,000 jobs – 1:80 UK Jobs
7% are offshore, 93% onshore roles
55% of jobs are in England with 45% in Scotland.
17% of workers are in the North East of England
Innovator
36,000km’s of pipelines connecting 300 platforms to the shore
4,000 exploration and appraisal wells have been drilled since 1965
Some Oil & Gas platforms are higher than the BT Tower
The accuracy of drilling is the equivalent to delivering a letter through a letterbox in Edinburgh…. From London
Key Skills, as told by the Industry
Ability to learn 69% Very Important
Teamwork 61% Very Important
Communication 60% Very Important
Work Ethic 58% Very Important
Technical Skills 57% Very Important
http://oilandgasuk.co.uk/economics.cfm