A new review by consultants Douglas-Westwood (DW) of the World Offshore Maintenance, Modifications and Operations (MMO) market shows "a positive outlook for the sector". "A steady recovery from the recent oil price downturn is forecast, with modifications spend expected to improve significantly between 2017 and 2021. Whilst industry feedback highlights significant pricing pressure among MMO providers, the number of global fixed and floating platforms, coupled with ageing population and industry regulation will continue to drive offshore MMO expenditure over the forecast period," DW said.
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