Economic Report 2000 Index

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Meeting the Challenge International Comparisons In recent years the industry has gained access to previously inaccessible regions and unexplored provinces and achieved notable successes, making large discoveries in deep water provinces such as Angola and Gulf of Mexico, and in the Former Soviet Union (FSU). The industry now faces more opportunities than skilled manpower and hardware are available to develop them. The Wood Mackenzie data provides an objective assessment of the UKCS's position against a wide range of provinces currently competing for investment funds. The data include comparisons on key metrics such as development costs/boe, exploration success rates, average discovered volume etc. Figure 17 - Number of fields discovered (1996-1999) Figure 18 - Discovery size