HomeMagazine2014March 2014, Vol. 241 No. 3DW: Deepwater Spend Forecast To Surge From 2016 Onward

March 2014, Vol. 241 No. 3

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DW: Deepwater Spend Forecast To Surge From 2016 Onward

Deepwater expenditure is expected to increase by 130%, compared to the preceding five-year period, totaling $260 billion from 2014-18, with growth driven primarily by Africa and the Americas, according to Douglas-Westwood’s 12th edition of its World Deepwater Market Forecast 2014-2018. As production from mature basins onshore and in shallow water declines, development of deepwater reserves is increasingly vital. Robust oil prices support investment in deepwater developments – the sustained high oil prices over the past few years have increased confidence in the sector. Report author, Balwinder Rangi said, “Africa and the Americas continue to dominate deepwater

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