Energy sector analysis sees deepwater attraction

5 Jan 2018   Offshore

It will be the deep waters like offshore Guyana that look commercial in the current market and make big and national oil companies turn a head, analysis found. Consultant group Wood Mackenzie expects a competitive field this year in exploration and production, with likely only the majors like BP and Exxon Mobil, along with national oil companies, investing heavily. Global investment in conventional exploration will be around $37 billion, about 7 percent less than last year and 60 percent below the top of the curve from 2014. Andrew Latham, a vice president for research in global exploration, said the big companies will be the most active. Rather than shale, it’s conventional exploration that’s appetizing to them. “Too […]

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