PRODUCTION COSTS RISE FOR NORTH SEA OPERATORS

The average cost of production in the North Sea has risen sharply during the past 4 years. A survey by analyst County Natwest Woodmac, Edinburgh, Scotland, said for 1987 the average cost was less that 2.50 ($4.25)/bbl in 1991 money but rose 30% to 3.25 ($5.52)/bbl in 1990. The increase is due to the loss of production from Piper field, other unplanned shutdowns, safety modifications and refurbishment programs, and the rising cost of supply services.

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