Oil Giants Bet Big on a Deepwater Boom ...Middle East

OILPRICE - Economy
Oil Giants Bet Big on a Deepwater Boom
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Deepwater oil exploration has been garnering growing attention this year amid reports of successful—and sizable—discoveries offshore Namibia and Guyana. This might be only the beginning of a new trend in oil exploration because the world will continue needing lots of oil for decades to come. “New discoveries can play an important role in the future, delivering affordable energy and bolstering energy security,” Wood Mackenzie analysts pointed out in a recent review of the deepwater exploration sector. They noted the negative…

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