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Offshore Spend to Rebound after 2009-10 Lows

Despite the global recession, offshore spend is expected to grow strongly – from $578b Capex and $379b Opex over the last five years to $807b Capex and $549b Opex over the period to 2013. Exploration for fresh oil & gas supplies and development of existing and newly found accumulations from ever more demanding reservoirs in new extremes of environment, are expected to drive offshore industry spends.