Oil upturn predicted to lead to contracts boom

Reactivated oil projects herald a potential rebound for subsea construction operators

Martyn Wingrove - Friday 5 February 2010

UP to $11bn of subsea construction contracts could be tendered over the next two years as oil companies increase project developments and reactivate postponed projects in response to the high oil prices.

The subsea construction vessel market may be challenging this year, but the backlog of projects on oil company drawing boards should bring growth...

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