Deepwater investment to show strong growth

11/28/2005
Investment in deepwater exploration, development, and production will remain strong during the next 5 years, totaling more than $20 billion/year by 2010, reported John Westwood Nov. 9 at the Deep Offshore Technology conference in Vitoria, Brazil. Westwood is managing director of UK analyst Douglas-Westwood, which has just released a new report, World Deepwater Market Forecast 2006-10.Steve Robertson, oil and gas research manager and lead author of the study, said deepwater sector expenditures would expand to a 7.3% compound annual growth rate during 2005-10, with especially strong growth in Asia and Latin America. “Advances in technology, particularly in mooring systems and innovati...
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