Big Oil Firms Crack The Whip Over Service Companies
"If we are not able to lower the cost development, decision makers will move away from the North Sea once the ongoing projects are done," Kvaerner's Haugan said.
The International Energy Agency sees oil prices down at $102 per barrel next year from the current $107 as several producers ramp up output, a big change for energy companies that have commissioned projects assuming higher prices.
(Additional reporting by Joachim Dagenborg, editing by William Hardy)
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