OPERATIONS

Time to get cracking, consultancy says

OFFSHORE services costs and rig rates will continue to fall until 2018, when lower breakeven rates will help support the sanctioning of a new generation of projects, and it won’t be another two years before project sanctions get back to average levels, Rystad Energy said this week.

Time to get cracking, consultancy says

  Big oilers such as BP and Eni are looking to cut costs and development budgets substantially, with breakeven costs for offshore projects below $40 per barrel, and innovative ideas being utilised to...

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