Offshore oil and gas exploration spending will rise by more than 20 percent in 2023, according to oilfield technology company SLB.
SLB CEO Olivier Le Peuch said in a presentation at the J.P. Morgan Energy, Power & Renewables Conference offshore exploration “from shallow to deepwater, is experiencing a broad resurgence”.
“Offshore is experiencing a renaissance, with significant breadth and anticipated durability”, Le Peuch said, as quoted in a transcript on the SLB website. “Driven by the imperative of energy security, regionalization, and North American shale supply discipline, operators across the world are looking to hasten discovery to renew supply, accelerate development cycle times, and increase the productivity of their offshore assets.”
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