Subsea tiebacks will improve production efficiency in the deepwater Gulf of Mexico. IHS Herold, a research and consulting firm focused on valuation, strategy, and performance measurement of oil and gas companies, and Harrison Lovegrove & Co., an oil and gas corporate finance advisory firm, released a study in September called the 2008 Global Upstream Performance Review. According to the study, while 2007 saw worldwide spending for petroleum industry development and exploration increase 20% and 19% respectively, net income per boe remained flat at USD12.98 - this after nearly doubling since 2003.
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