Energy & Petrochemicals #offshore#projects
Offshore project sanctioning nearly doubles as operators ramp up spending
Global offshore oil and gas field development investment is set to reach $137bn in 2026, a 30% year-over-year increase, with first-half FIDs up 90% to 38 projects. Westwood reports a more balanced spending cadence and a shift toward floating platform EPC, with Latin America overtaking the Middle East as the largest regional market.
Aug 11, 2026 1 source