TECHNOLOGY, ECONOMICS FAVOR OPERATIONS IN MATURE PRODUCING PROVINCES

Technology is raising the investment allure of mature oil and gas producing regions in relation to frontiers. Falling exploration and development costs have improved the comparative economics of established, high cost areas such as North America and the North Sea, says Ted Eck, chief economist of Amoco Corp. During an economic panel discussion at the American Petroleum Institute's annual meeting, Eck noted that oil prices of $25/bbl or less don't provide sufficient incentive for

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