Rystad Energy Forecasts Maximum Investment in Deepwater Projects This Year
Oil platform on the ocean. Offshore drilling for gas and petroleum or crude oil. Industrial 3D render
Capital spending on new deepwater drilling is forecast to hit a 12-year high next year, according to consultancy Rystad Energy.
Once upon a time, the shale revolution somewhat pushed back interest in the development of shelf hydrocarbons. However, recent deep-sea discoveries off Guyana, Namibia and the Gulf Coast are bringing renewed interest to the sector.
Deepwater projects offer the qualities oil companies now demand: longer production times, lower costs, greater resource potential and lower carbon emissions.
