Offshore drilling work drops back in third quarter

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Deloitte said the recent economic crisis was the likely cause of the drilling dip

Offshore drilling in the UK sector fell by 20% in the third quarter of 2010 compared to the same period last year, according to new figures.

Deloitte said its survey showed drilling began in a total of 24 exploration and appraisal wells from July to September.

This was in contrast to 30 in the same three months of 2009.

Graham Hollis, Deloitte energy partner in Aberdeen, said the recent economic crisis was the likely cause.

He said: "Many companies adopted a more cautious approach to drilling schedules during the recession as they placed emphasis on cash flow and controlling costs and these continue to be priorities for many organisations."

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