Wood Mackenzie says while exploration budgets are likely to be a prime target for cost-cutting in the oil and gas sector a fall in the price of services will allow firms to do more for less in future.
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Herald Scotland: Oil and Gas Exploration Could Increase in Spite of Crude Price Slump Say Experts
Oil and gas companies will slash exploration budgets by 30 per cent in 2015 in response to the oil price fall but activity could increase next year as work gets cheaper, experts have predicted.