North Sea Transition Authority··ReleaseGas
North Sea production costs fall 9% in 2025 as efficiency improves
The North Sea Transition Authority reports that unit operating costs fell 9% year on year to £17.81 a barrel in 2025, as operating expenditure dropped from £7.8 billion to £7.1 billion. Production efficiency rose one percentage point to 76%, driven by the retirement of older high-cost assets and new field start-ups.
Our readFalling unit costs give operators more room to justify continued North Sea investment even as the basin matures, though the gain rests partly on retiring assets rather than new efficiency.
Read the announcement at North Sea Transition Authority →
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