Speaking at the 2015 OSJ Annual Conference, Awards & exhibition in London in February, Petter Dyring, head of subsea at RS Platou's Oslo office, described some of the key trends in the subsea sector, and looked in detail at expenditure and vessel demand, charter trends, and challenges and opportunities in the sector. As Mr Dyring noted, the industry has gone from "oil drought to flood" in around six years and, at the current time, the oil majors are experiencing a "cash squeeze." Added to this, the steep fall in the oil price in the last 12 months means that there has been a significant drop in spending on exploration and production (E&P).
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