Industry analysts predict subsea hardware spending to double

Industry analysts, Douglas Westwood, has predicted that subsea hardware spending will double over the next five years and will reach $124 billion in 2013-17.

The report has highlighted that this may be due to the increasing challenge to recover smaller, and more scattered oil reserves. Accompanying factors include more extreme conditions, fewer conventional opportunities and more advanced subsea hardware solutions.

Read the full story here: Subsea hardware spending to double over next five years predicts Douglas-Westwood

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