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No-one predicted the scale and depth collapse in the oil priceand the impact it then had on offshore marine, so it is also likely that few,if any, will accurately forecast the timing and extent of an upturn in thesector.
The differing views of industryanalysts underscore this point and this latest white paper from SeatradeMaritime News examines the contrasting views.
What is clear is that the oilprice has recovered from its lowest point, OPEC has agreed cuts in production,and the breakeven costs of production have fallen sharply with the slump in themarket.
These factors could combine toprovide an upturn quicker than analysts essentially forecasting the status quoexpect. As the sector restructures and new technologies allow for greaterefficiencies meeting new, lower breakeven levels for production newopportunities will open up.
Looking at the key Middle EastGulf region this latest White Paper states: “Workboat operators have a key roleto play in tackling many of the challenges facing the offshore energy sector inthe Gulf. There are many opportunities to do more with less – to raiseefficiency and productivity and to offer a service of better quality at a morecompetitive price.”
Download the whitepaper by completing the formon the right to discover why some prominent oil company executives and leadinganalysts are predicting a major turnaround this year.
Download the whitepaper
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The State of the Offshore & Workboat Industry 2017