Consultants Westwood is forecasting 'a rebound in offshore activity', with subsea vessel operations and hardware expenditure expected to amount to US $152 Bn over the 2019-2023 period. 'The recovery in the subsea market is evident, with the positive sentiment seen in 2017 continued into 2018. This has significantly supported project sanctioning, with the number of greenfield projects passing the final investment decision stage in 2018 increasing by 154% compared with 2016, at the low-point of the downturn,' said Westwood in a report.
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