In 2020 unit operating costs on the UKCS fell £0.7 per barrel to an average of £11.20, the lowest level since 2017.

The year saw both operating costs and production decline, due to the twin impacts of Covid 19 and a significant fall in oil prices. However, the operating cost decline from 2019 to 2020 (-11%) was considerably greater than the fall in production(-5%), which led to the drop n the average unit operating cost per barrel.

The UKCS Operating Costs 2020 report can be viewed here