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Total will also pay £13.5m of exploration costs.
But higher operating expenses and exploration costs offset those gains.
But blaming high exploration costs, low refining margins, currency changes, security problems, maintenance overruns and more looks a bit lame.
But going forward it will be higher than that, due to political risk and higher exploration costs.
Exploration costs, however, will be high, as the area is ice-covered for most of the year.
Technical risks, lengthy lead times and soaring exploration costs have deterred foreign investors seeking a quick return.
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This year BP plans to drill 16 to 18 exploration wells with an overall exploration cost of about $3 billion.
In this paper, we study how users tolerate such exploration and how presentation strategies can mitigate the exploration cost.
Through the 1980s, the exploration cost per barrel tumbled from around $20 to between $5 and $7 thanks to several breakthrough technologies, including 3D-seismic imaging.
The exploration cost is set to be $0.1E6 per pattern.
Therefore, we only need to identify the region or the boundary of shared paths to save the exploration cost.
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