DVB: Only three percent offshore growth in 2014

Oil companies are cutting costs, and in 2014 the investment growth will decline from previously double-digit rates to between three and five percent, says DVB in an analysis.

BY KATRINE GRØNVALD RAUN

The double-digit growth rates of recent years seen in oil companies' investments in exploration and production (E&P Capex) will not continue throughout 2014, says DVB in a new analysis of the offshore industry. Instead, offshore carriers will have to get used to a growth level of three to five percent, says the bank.

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