Deep water drives growth

SOME $US77 ($A73.7) billion is expected to be spent on worldwide subsea vessel operations between 2012 and 2016, a study from energy business advisors Douglas-Westwood has found.

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This represents a 63% increase over the previous five-year period.

Subsea vessel demand is expected to total 326,500 days - a 33% rise - and annual expenditure nearly double from $US11.

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