Oil sector seeks cost co-operation

摘要

Oil firms and service companies are calling for greater co-operation and integration across the industry to curb spiralling costs that could threaten capacity growth.But agreeing when to co-operate is another issue. Spiralling costs are threatening to lead to a shortfall in supply,industry executives warned at the Petrostrategies oil summit in Paris on 11 April.The industry needs to add up to 55mn b/d of oil production capacity over the next 15 years to offset field decline and meet expected demand growth,Total explo-ration and production president Arnaud Breuillac says.“If we are not able to do something about it as an industry,we will have to suspend or maybe cancel projects,”he says.