Oil & Gas UK’s Activity Survey 2016, published on 23 February 2016, reveals that while the industry’s drive to improve efficiency, reduce operating costs and increase production has had marked success, exploration remains at an all-time low and investment in new projects is set to fall to less than £1 billion this year. The report highlights the urgent need for fiscal reform to attract investment back into the basin and minimise loss of capacity during the downturn.

Around 500 delegates turned out to hear at first-hand the findings from the report at five briefings held across the last week in February in Aberdeen, London, Inverness, Newcastle and Norwich.

The full report is available online