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Global subsea spending up

03/12/2007
A presentation on future subsea oil and gas field development trends, challenges, and technology requirements was featured at PennWell’s Subsea Tiebacks Forum held last month in Galveston, Tex. The talk was presented live as well as over the internet as a webcast, which was archived for future access on www.OGJOnline.com.One of the speakers, Howard Wright, senior analyst with Infield Systems Ltd., presented the London-based firm’s forecast of worldwide subsea oil and gas development spending.Infield expects subsea spending over the next 5 years to total $86 billion. This will include $10.6 billion on subsea equipment, $31.5 billion on pipelines and control lines, and $44.2 bil...
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