WATCHING THE WORLD OPERATORS TARGET U.K. COST CUTS

With David Knott from London Oil prices are expected to remain low for some time. Capital and operating costs continue to rise. The 230 undeveloped U.K. oil and gas fields are estimated to contain an average of less than 50 million bbl of oil equivalent. Operators keen to keep U.K. North Sea oil and gas viable have responded to those threats by developing Crine: Cost Reduction Initiative for the New Era. Crine was nurtured through the U.K. Offshore Operators Association, which brought