The pace of drilling in the North Sea, the centre of UK oil production for the past 40 years, has sunk to a record as crashing energy prices force explorers to abandon costly projects.
Just 63 percent of oil and gas rigs in the UK North Sea were being used as of January 19, according to data provider RigLogix.
That’s the lowest since the Houston-based company started tracking their operation in 2000.
In the Norwegian North Sea, the 71 percent rate is also the worst on record.
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