Oil and gas industry costs reach new highs
Costs of constructing new oil and gas upstream and downstream facilities have reached record highs, according to indices compiled by IHS/Cambridge Energy Research Associates (CERA).
Upstream costs have climbed six percent in the past six months and have doubled since 2005. The latest increase raised the Upstream Capital Costs Index (UCCI) index to 210 points from its previous high of 198. The values for the UCCI are indexed to the year 2000, meaning that a piece of equipment that cost $100 in 2000 would cost $210 today.
The Downstream Capital Costs Index (DCCI) also indexed to the year 2000, rose from 166 to 176 points over the past six months, an increase of six percent
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