PRT REFORMS BOLSTER BP DEVELOPMENT PLAN

Development of a group of nine Central North Sea oil and gas fields got a boost from changes in the U.K. petroleum revenue tax (PRT). Operator BP Exploration Co. Ltd. last week disclosed a green light for the l.5-2 billion ($2.25-3 billion) Eastern Trough Area Project (ETAP). BP envisages development approval early in 1993 and start of production in 1998. Meantime, BP Norway Ltd. SA carried out first field trials of a new chemical drag reducer (CDR) that yielded water injection rate increases

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