OTC: Panel seeks to energize deepwater projects

"Nothing draws people together like a common enemy," said Maersk Oil Houston's President Bruce Laws, "and the common enemy right now is low commodity prices." Laws, who addressed an audience at the Offshore Technology Conference in Houston on May 4, was part of a panel discussing worldwide oil and gas deepwater development. The session revolved around deepwater projects not keeping pace with the current downturn. The price of oil, meanwhile, has declined nearly 60% from mid-2014.

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