Deepwater spend to hit $210 Bn

摘要

Deepwater expenditure is expected to increase by 69% to US $210 Bn between 2015 and 2019, compared to the previous five-year period. “As production from mature basins onshore and in shallow water declines, development of deepwater reserves has become increasingly vital, particularly to the world’s oil majors,” said Douglas-Westwood’s World Deepwater Market Forecast 2015-2019. “However, the recent oil price decline has intensified pressure on operators’ budgets. Consequently, numerous operators have deferred sanctioning of capital intensive developments. “Africa, Latin America and North America will continue to dominate deepwater capex, with $173 Bn set to be spent over the next five years, with Africa forecast to experience the greatest growth.”