ACCENT ON NORTH SEA FIELD DEVELOPMENT DIVERTS FUNDS FROM EXPLORATION, APPRAISAL

Industry's commitment to field development in the North Sea is diverting money from exploration and appraisal programs there. Further strains are placed on exploration budgets of companies that have decided to move into the former Soviet Union, says Arthur Andersen & Co., London. The analyst predicts a slide in exploration and appraisal g in the, U.K. and Norwegian North Sea this year, although activity off Netherlands should increase.

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