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The seven most advanced developments are expected to see production increases of 43% in 2017.
The deepwater industry has emerged from the downturn leaner and more competitive with US tight oil
According to research by Wood Mackenzie, the APAC upstream sector holds considerable value as the majors divest mature and mid-life assets in the region.
Wood Mackenzie expects a modest recovery due to the improving oil price.
Confidence will return to the sector in 2017, with exploration and production spend to rise by 3% to US$450 billion.
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