Sydney-The forecast capital cost of the Maari oil field development off New Zealand's North Island has blown out to around 440 million, from an estimated 360 million when the project was sanctioned in November 2005. The increase in forecast capital spending is the result of higher costs for services and materials, such as steel, Australian partner Cue Energy's CFO Andrew Knox told Platts in a recent interview. "These pressures are not particular to New Zealand, they have been felt by operators everywhere," Knox said.
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