2016 has been consigned to the trash can by most, but 2017 sees rising demand and capex. The past 18 months have been a tumultuous time for the offshore sector, and industry players continue to look ahead with trepidation, but the global offshore capex forecast to 2020 has long-term promise. With the oil price-induced budget cuts over the past year, global offshore capex is still expected to fall significantly during 2016. However, after bottoming out this year, the market shows potential in the long run as a result of increased project volume.
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