INVESTMENT IN DEEPWATER WEST AFRICA MAY INCREASE 17-FOLD IN NEXT FIVE YEARS

From: Hart's Petroleum Finance Week | Date: January 31, 2000 | Copyright information

Oil and gas expenditures in deep water off West Africa are expected to increase 17-fold during the next five years, according to preliminary figures compiled by Douglas-Westwood Limited. John Westwood said that the company's forthcoming World Deepwater Report 2000-2004 anticipates strong growth in the deepwater sector worldwide, beginning in the second or third quarter of 2000 and then accelerating. Preliminary findings indicate about $10 billion is being spent now on deepwater worldwide and that $22 billion will be spent by 2005.

"Why deepwater? Where else does the industry go?" ...

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