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Analysts: Several North Sea oil projects are profitable again

Budget cuts and cost reductions mean that a number of projects on the Norwegian shelf can make ends meet under the current oil price. However, big developments needing major investments will probably be postponed, projects Wood Mackenzie.

Johan Sverdrup | Photo: Statoil

The oil companies' comprehensive focus on costs and investment adjustments on oil projects in the Norwegian part of the North Sea now seems to be paying off.

The major budget cuts, layoffs and cost reductions have made several development projects on the Norwegian shelf feasible even in light of the current oil price, writes analyst agency Wood Mackenzie according to Norwegian media offshore.no.

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