London—Norwegian offshore operators are likely to face fresh project delays and cost overruns in 2013 as high activity levels continue to pressure a service sector already at peak capacity, energy analysts Wood Mackenzie said. Following a recent ramp-up in exploration and development activity on the Norwegian Continental Shelf, the country’s oil industry shows signs of “overheating” resulting in rig shortages and creeping costs, Wood Mac said in its annual review of the Norwegian upstream sector published January 10.
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