Speaking to delegates at the Annual Offshore Support Journal Conference, Awards and Exhibition in London in February, Fazel A Fazelbhoy chief executive of Synergy Offshore FZ LLE explained that the offshore market in the Middle East has experienced "some pretty tough days in the last five years," with offshore losing capital allocation to onshore conventional oil and to shale. "We're treading water," said Mr Fazelbhoy. "We're not taking water on board, but we're not doing great either."
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