UK industry body OGUK expects capital investment in the UK offshore sector to increase by 35pc this year to ?11.5bn ($17.9bn), following a 40pc rise in 2011. But it warns that such increases are not necessarily sustainable given declining exploration. The investment increase partly reflects higher oil prices and partly decisions taken in 2010-11 to develop 25 new fields, seven of them representing 85pc of total investment of ?19bn. OGUK
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