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U.K. OIL/GAS FLOW CLIMBS TO RECORD

Feb. 20, 1995

U.K. 1994 Production and Consumption of Primary Fuels (17970 bytes) Combined oil and gas production for 1994 hit a record high in the U.K. Department of Trade & Industry figures show gas production climbed to a record level, but oil production remained below the U.K. peak achieved in 1985. Charles Wardle, undersecretary of state for industry and energy, said the 27% increase in oil production over 1993 will make a contribution to U.K.'s positive balance of payment in 1994 of f]4 billion ($6

U.K. 1994 Production and Consumption of Primary Fuels (17970 bytes)

Combined oil and gas production for 1994 hit a record high in the U.K.

Department of Trade & Industry figures show gas production climbed to a record level, but oil production remained below the U.K. peak achieved in 1985.

Charles Wardle, undersecretary of state for industry and energy, said the 27% increase in oil production over 1993 will make a contribution to U.K.'s positive balance of payment in 1994 of f]4 billion ($6 billion), almost double the 1993 level and the highest since 1985.

"Future output will depend on ever greater effort to maintain competitiveness," Wardle said. "We will continue to encourage the Cost Reduction Initiative in the New Era (Crine) and license frontier areas such as West of Shetland that can be exploited with new technology.

"We shall press ahead with our initiative to ensure that mature areas remain viable by encouraging improved access to offshore infrastructure.