MORE NORTH SEA GAS ON STREAM

Two gas fields have begun production in the U.K. North Sea, one containing big reserves and the other the first multiwell subsea development in the southern basin. That's the only good news coming out of the North Sea of late. Here's the bad news: Midland & Scottish Resources plc (MSR), London, wrote off the entire value of its Emerald field development because of further drilling costs and dwindling reserves estimates.

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