The bank’s research and strategic planning unit said in its latest outlook for the offshore market that there was no end in sight to the current boon in investment.
“The current offshore market is far from a wave and has every characteristic of a swell,” the report said.
The bank is predicting that exploration and production capital expenditure will see the third straight year of double-digit growth in 2013, to $682 billion from this year’s $614 billion and 2010’s $556 billion.
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