U.K. BEARS BRUNT OF DECLINE IN EXPLORATION OFF NW EUROPE

Roger Vielvoye International Editor Exploration and appraisal drilling off much of Northwest Europe is starting to wane as low oil prices and continuing uncertainty about the future trigger substantial cost cutting. Exploration budgets off the U.K. have been hardest hit. Offshore operators have started to defer until 1993 or later formal commitments to exploration campaigns.

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