Capital expenditure (CAPEX) in the UK oil and gas industry will keep falling over the next half decade, according to the latest projections from the Oil and Gas Authority (OGA). The OGA forecasts that CAPEX within the sector will drop to $7.72 billion (GBP 5.60 billion) in 2018, from $7.73 billion (GBP 5.61 billion) in 2017, before declining to $6.8 billion (GBP 5 billion) in 2019, $6.2 billion (GBP 4.50 billion) in 2020, $5.51 billion (GBP 4 billion) in 2021, $4.82 billion (GBP 3.50 billion) in 2022, and $4.13 billion (GBP 3 billion) in 2023. CAPEX in the region was $21.3 billion (GBP 15.45 billion) in 2014, $16.79 billion (GBP 12.17 billion) in 2015, and $11.91 billion (GBP 8.63 billion) in 2016. Decommissioning costs are expected to plateau at $2.48 billion (GBP 1.80 billion) per year from 2018-2023, according to the OGA. These costs were at $1.73 billion (GBP […]