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Maersk Oil CEO thinks costs can be cut further

Although the easiest cost reductions were achieved over recent years via cost cutting initiatives, things can be done even cheaper, says the oil CEO.

All of the low-hanging fruits have been plucked out in cost reduction programs over recent years, but more extensive cost cutting can still be carried out at Maersk Oil, says the company's CEO Gretchen Watkins.

"I expect that we can cut costs further, but of course, by now all the easy routes have been taken. So the areas that we're currently looking at will generate smaller savings and take longer to realize," Watkins says.

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