Global Offshore Prospects - Douglas-Westwood

2009 – total global E&P spend 10% down?Source: DnB NOR,• Global E&P expenditure expected to fall by 15%, from $454 bn in2008 to $387 bn in 2009• Small & marginal projects have been hit• Mainly onshore? And activity that relies on the credit market• The bigger offshore projects & opex less affected• Spending recovery in 201016