14Th Deep Offshore Technology News

Deepwater field development expenditure is forecast to continue its strong growth trend, doubling over the next five years. Launching the latest edition of 'The World Deepwater Report' at the 14th Deep Offshore Technology Conference in New Orleans, John Westwood, managing director of international analysts Douglas-Westwood, said that his firm expected nearly $58 billion to be spent over the next five years in developing deepwater fields. "We expect West Africa to lead the pack attracting 38% of the expenditure, followed by the Gulf of Mexico with 32% and Brazil with 23%," said Westwood. The report is based on analysis of data in the Infield Systems database and their data manager, Dr.