Deepwater capex to peak at US$60bn in 2022: WoodMac

A NEW report from Wood Mackenzie reveals that annual capital expenditure in the deepwater oil and gas sector will reach US$60 billion in 2022 from $50 billion currently.

Deepwater capex to peak at US$60bn in 2022: WoodMac Deepwater capex to peak at US$60bn in 2022: WoodMac Deepwater capex to peak at US$60bn in 2022: WoodMac Deepwater capex to peak at US$60bn in 2022: WoodMac Deepwater capex to peak at US$60bn in 2022: WoodMac

Image courtesy of BP

 
Such a rise in capital expenditure expected is largely due to improved returns a cause of lower costs associated with better project execution throughout the recent downturn.