Gulf oil companies to lead offshore investments 2009 to 2013

Energy business Douglas Westwood has predicted that while spending in 2009 and 2010 has been hindered by the financial crisis, offshore operators are still expected to increase offshore drilling investment by 32 percent from 2009 to 2013, compared with 2004 to 2008.

According to a report by The Gulf, US$278 billion was spent in the four years between 2004 and 2008, and will escalate to US$367 billion from 2009 to 2013.