Expectations are growing that 2016 will see a complete drought of new deep-water project sanctions and that 2017 may not be any better as the industry struggles to cope with the bust in oil and gas prices.
Mark Richard, senior vice president of business development at Halliburton, the world’s second biggest oil service contractor, told Upstream on the sidelines of the IHS Ceraweek conference that he does not believe that his customers will take final investment decision on any deep-water projects this year.
“Not
