Deepwater outlays to double by 2004

Expenditures in the global deepwater oil and gas sector are set to double by 2004, possibly exceeding $20 billion/year.That's the finding of a new joint study released by Douglas-Westwood Associates and offshore industry data specialists Infield Systems Ltd., both of the UK.The forecast acceleration in deepwater activity, the report says, is likely to require: The drilling and completion of more than 1,400 wells. The supply of more than 1,000 subsea christmas trees, 300 templates and manifolds, 10,000 km of subsea control lines, 12,000 km of flowlines and risers, and 100 floating and fixed platforms. All told, spending for deepwater activities is expected to reach about $76 billi...

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