Insight
Deepwater offshore: will 2023 be an inflection point for capacity?
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Report summary
The current project funnel suggests markets will reach or exceed service capacity in 2024. Will operator or supplier capital discipline erode or collapse? Will capacity be added or will backlogs, prices, and the demand for advantaged services continue their steep rise? We expect capital discipline to hold but anticipate some erosion as budgets creep higher. But a collapse and a return to pre-2014 levels is a possibility
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