ENB Cost Report 2023

ENB’s Cost Report 2023 offers findings from energy industry professionals about capital investment plans, workforce needs, as well as technology trends. Crucially, the fourth edition of the ENB Cost Report delivers a noteworthy set of findings from a wide range of industry participants across energy production, exploration, consulting, as well as engineering, government, professional and support services.

The authoritative nature of the data is reinforced by the strong participation of key decision makers within organisations. Significantly, most of the respondents are in roles at management level or above.

The report found that capital expenditure is set to expand across the board with survey respondents positive on new projects being sanctioned in traditional oil and gas, as well as new energy sectors.

Data from the survey also suggests significant investment will be required for Australia to develop a skilled workforce to build an envisioned decarbonised future.

Key Findings:

Will capital expenditure in the energy sector continue to rise?
What are the most efficient new energy investments?
Does Australia need to boost its skilled workforce to become a renewable energy superpower?

Methodology:

This fourth edition of the ENB Cost Report presents the results of the 2023 Cost Survey, which was distributed to the entire ENB readership base.

The survey was started by over 100 respondents and, after filtering out incomplete entries, received 105 usable responses. Pleasingly, we once again attracted a wide range of industry participants, primarily from the senior management ranks of the sector.

Further enhancing the quality of results, the survey attracted participants from the breadth of the upstream oil and gas sector. A significant portion of respondents marked their company’s category as energy production (22.86%) or exploration (18.10%), while consulting featured prominently with 27.62%.

The remainder of respondents were spread among a range of sub-categories, including engineering, government, professional and support services.