Oil companies urged to step up development
by
Martyn Wingrove, London
—
last modified
Feb 26, 2010 04:09 PM
OIL companies should accelerate their offshore development projects or face an increase in costs, as the industry expects a flood of new orders to reduce the availability of service vessels from next year.
The window of opportunity to charter offshore vessels at cheap rates is open to oil companies now but could be closed by the end of the year.
Energy companies have considered restarting projects that they put on hold at the...
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