Oil & Gas UK outlines UKCS production challenges

摘要

Operators on the UK Continental Shelf (UKCS) spent pound 4.9 billion on developing new reserves in 2007 compared with pound 5.5 billion spent a year ago,according to an economic report produced by trade association Oil & Gas UK.The decline in spending is worrisome because rising exploration and production costs mean that capital is only one-third as efficient as 5 years ago,which threatens bringing on new oil and gas production.