North American spending is expected to increase 7% to almost $200 billion against 2013 spending of about $186 billion, buoyed by a shift by operators to development mode for some of the larger shale fields, as well as offshore in the Gulf of Mexico.
International spending is expected to increase 6% in 2014 to $524 billion.
Regionally, the Middle East is expected to attract the largest percentage bump in spending for 2014, with the survey finding an estimated 14% increase in spending to almost $40 billion.
Conversely,
