Offshore Oil & Gas Projects Set For Record Recovery ...Middle East

Operators are expected to commit to developing a record number of offshore oil and gas projects over the next five years, with deepwater projects set for the most impressive growth, Rystad Energy said in a new report this week.The energy research firm has defined in its analysis a project as ‘committed’ when more than 25 percent of its overall greenfield capital expenditure (capex) is awarded through contracts.Offshore oil and gas development is not only set to recover from the pandemic shock to prices and demand, which forced operators…

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