OIL, GAS FIRMS TO BOOST CAPITAL INVESTMENTS DURING 2011 - But Decline in Gas Prilling Expected to Continue

摘要

Growing confidence in the United States and global economies is spurring companies to increase their capital investments in 2011. This is particularly true in the oil and gas sector where, according to the Oil & Gas Journal's annual spending report, companies plan to invest US$258.9 billion in upstream projects compared with US$245 billion last year Of this US$2589 billion, 84% would be spent on drilling and exploration, with the balance on production. The production expenditures alone are expected to increase to US$41.3 billion, up 6,2% over 2010.