Uncertainty dominates outlook for UKCS ///

The year 2009 has been a difficult one for stakeholders in the UK Continental Shelf. The collapse in oil and then gas prices in the later part of 2008 was reflected in greatly reduced cash flows and subsequently in oil company budget cuts for 2009. The current year has, thus, experienced a major reduction in exploration in particular, though drops have also been recorded for appraisal and development drilling.

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