The global offshore drilling sector will stabilise this year but is unlikely to return to growth until 2011, according to a report by analyst Datamonitor. Following a sharp decline in 2009 caused by weak energy demand, global drilling is predicted to rise 12% in 2010-2014, compared with the previous five years. Global spending is forecast to rise 33% over the period, translating into a total expenditure of US $387 Bn. Africa, which recently surpassed Western Europe in spending terms, looks set to be the boom market.
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