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 DEEP
WATERS
Over the last decade improved technology, allied to
dwindling opportunities in shallow waters, have led to deepwater
exploration throughout the world but especially in the US Gulf of Mexico
and off Brazil where pioneering new drilling and production techniques
have been developed.
 Along
with West Africa these regions are set to dominate the market for
offshore services up to 2015 as total output rises to a plateau.
However, although deepwater production of both oil and
gas is growing rapidly, it will still only account for 25% of total
global offshore oil output and 16% of offshore gas output by 2015, by
which time it will be near its plateau level.
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