Big Oil Regains Deepwater Drilling Appetite

By Tsvetana Paraskova After three years of deepwater exploration in the doldrums, the big international oil companies are resuming their offshore exploration efforts with lowered costs and highly selective smarter choices for drilling areas, as oil prices have recovered from last year’s $30-per-barrel-lows. According to managers from major companies who attended the CERAWeek industry conference in Houston this week, the oil price recovery, low service costs, and the companies’ slashed costs and streamlined operations will be manifesting in increased exploration…

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