Economic aspects of cost savings in the UKCS

A. G. Kemp, Bruce MacDonald

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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 languageEnglish
Title of host publicationOffshore Technology Conference 1994, OTC 1994
PublisherOffshore Technology Conference
Pages125-140
Number of pages16
Volume1994-May
ISBN (Print)9781613990964
Publication statusPublished - 1 Jan 1994
Event26th Offshore Technology Conference, OTC 1994 - Houston, United States
Duration: 2 May 19945 May 1994

Conference

Conference26th Offshore Technology Conference, OTC 1994
CountryUnited States
CityHouston
Period2/05/945/05/94

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