Strong growth seen in offshore oil prodution

Worldwide offshore oil production is expected to rise by about 17% to 1.23 billion metric tons (24.6 million b/d) in 2000. The increase to that level averages 4.4%/year during 1998-2000, which is double the growth projected for the oil industry as a whole. The forecast (see Table 1 [63,893 bytes] , p. 25), compiled in a report by Mackay Consultants Ltd., Inverness, Scotland, takes into account recent decreases in oil prices and economic problems of many countries in Asia. Offshore gas