U.K., NORWAY TO PACE INCREASE IN OFFSHORE OUTPUT

World offshore oil and gas industry spending will grow at a rate of a little more than 3%/year to $84 billion in 1995. Meantime, offshore oil production will rise 16% from 1991 to 1995, while offshore gas flow will grow 18%. Much of this gain will be in the Norwegian and U.K. North Sea. World exploration will maintain its level. Last year 1,017 exploration wells were drilled, compared with an expected 1,134 in 1995. Those are the conclusions of Mackay Consultants, Inverness, U.K., which

Jul 19th, 1993
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