StatoilHydro sees offshore costs levelling off

OSLO, May 13 (Reuters) - Norwegian energy group StatoilHydro (STL.OL: Quote, Profile, Research) said on Tuesday that costs in the offshore industry are levelling off on the whole though costs in the subsea segment are still under upward pressure.

"We do see that this pressure is levelling off," Chief Financial Officer Eldar Saetre said in a presentation to analysts of the group's first-quarter results.

"There is a better balance than there has been overall. But there is still upward pressure on cost inflation, particularly related to subsea activities," Saetre said.

StatoilHydro reported better-than-forecast first-quarter results on Tuesday, with record oil prices and a 4.4 percent rise in oil and gas output offset rising production costs. (Reporting by Wojciech Moskwa)