Offshore staff

ABERDEEN, UK --Oil and gas price increases and rising costs pushed spending in the UK continental shelf up 27% last year to just under $24 billion, according to the 2007 Spends and Trends report from Scottish Enterprise Energy Team.

"The report shows that total expenditure this year will continue at the same high levels as last, with spending by 2011 only slightly lower than levels between 2002 and 2004," says director Brian Nixon.

This underlines the industry's success in extending field lifespan and delaying decommissioning work, he added.

The survey also predicts that 25 new UKCS fields will come on stream during 2007.

07/04/2007