Page 53: of Offshore Engineer Magazine (Dec/Jan 2015)

52 54

Year in Review

Forty years on:

This story illustrates the very sub- equally dramatic price collapses. In then and the cessation of produc- stantial technological advances which many ways the current period of low tion date continues to be extended. what we have learned have taken place in the UKCS prices compares with the 1986-87

Technological progress, cost

By Professor Alex Kemp,

University of Aberdeen reductions and high opera- over the period, and which period. If this parallel is correct the irst oil production in the UK are gradually increasing ensuing recovery will be gradual.

tional e