Offshore construction: A long wait for better days

Posted by Charles Decuir on July 30, 2018 8:50 AM EDT
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With the oil price continuing to climb and Baker Hughes’ rig count showing a wavering but upward trend worldwide, there is a cautious optimism in the air, writes Ed Martin

As Westwood Global Energy group director Thom Payne told Riviera’s Middle East Offshore Support Journal Conference in Dubai in May: “We may have a while yet to wait before we see concrete signs of increased upstream activity. [But] we are starting to see a greater volume of offshore drilling projects being sanctioned around the world – although drilling will not start for another 18 to 24 months – so we are still a little bit off from that big recovery in global rig counts”.,offshore-construction-a-long-wait-for-better-days_53696.htm

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