Abstract
Declining production in mature fields, relatively small new field developments, the fall in oil prices, and the high tax takes in "old" fields have combined to squeeze profit margins on petroleum exploration in the UKCS. Achieved reductions in development and operating costs can help to sustain activity levels over the next two decades. Contractors as well as oil companies and the Government will benefit from the substantial number of induced extra field developments achieved from cost savings of 20%.
Original language | English |
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Title of host publication | Offshore Technology Conference 1994, OTC 1994 |
Publisher | Offshore Technology Conference |
Pages | 125-140 |
Number of pages | 16 |
Volume | 1994-May |
ISBN (Print) | 9781613990964 |
Publication status | Published - 1 Jan 1994 |
Event | 26th Offshore Technology Conference, OTC 1994 - Houston, United States Duration: 2 May 1994 → 5 May 1994 |
Conference
Conference | 26th Offshore Technology Conference, OTC 1994 |
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Country/Territory | United States |
City | Houston |
Period | 2/05/94 → 5/05/94 |