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DRILLING

Drillers innovate to survive

PRE-OIL price crash levels of $US120/barrel may now be an impossible dream for oil and gas drillers, but they can look forward to further recovery next year in better shape as the downturn has forced them to innovate more and look to potentially massive opportunities for shale and tight gas in Saudi Arabia.

Anthony Barich

Consultancy Douglas-Westwood said yesterday that while the declines in drilling activity of the past 18 months will continue this year as operators keep tight controls on capital expenditure, their goals...

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