As we close out 2013, it is only appropriate that we do so by looking not at the past but into the future.
2014 is set to start off on the right foot. With increased deepwater activity and enhanced oil recovery efforts, Infield energy analysts predict that 2014 will rake in $87 billion in the development drilling, manufacturing and installation of subsea units. Leading the charge will be the activity hot beds of the U.S Gulf of Mexico (GOM), Brazil, Angola, Nigeria, Norway, UK and Australia.
The GOM continues to grow and 2014 will be no different. Capital expenditure in the GOM will grow to over $12.5 billion per annum by 2015, representing a 38% increase since 2011, as forecasted by Infield. Deepwater will account for 76% of total North American offshore investment and items such as pipelines and subsea equipment will consume the bulk of this investment.