Sentence examples for exploration spend from inspiring English sources

The group's capital expenditure for 2015 is expected to be $1.9bn which includes a lower exploration spend of $0.2bn.

This will include reduced exploration spend, a fresh look at capital allocation in longer-term plays, and asset sales spanning upstream and downstream," Mr van Beurden explained.

Strategy switched to survival mode: a hard-hitting $500m cost plan saw headcount cut 40%, exploration spend down 75% to $250m and the dividend suspended.

But weakness in exploration spending has been common among the major oil companies.

Exploration spending is expected to be about 4percentt of the 2001 budget.

A steady upswing in oil prices since 2004 rekindled exploration spending, and advances of drilling technology have also helped.

And if the industry were to raise exploration spending substantially, supplies could rise, putting pressure on prices.

Fracking companies will get a tax allowance for developing gas fields and will now be able to offset their exploration spending against tax for a decade.

Improving BP's safety record remains his priority, he said, but BP also wants to double its exploration spending by investing in projects in developing economies like Brazil, Libya and Jordan.

Mr. Wood noted that production had declined 38 percent over the last three years on the British continental shelf and that a fall in exploration spending had meant that fewer than 50 million barrels were found in 2012, a very low amount.

Bob Dudley, its chief executive, will say that earlier moves to trim exploration spending and sell off assets has left BP better placed than many to weather a storm which has hit the entire industry.