South America

The rise in offshore oil and gas production expected in 2019 and beyond is due in part to the coming onstream of new fields aided by technological advances, which have dramatically cut E&P costs. (Source: Shutterstock.com)

Global Deepwater Oil Production To Hit New Record In 2019

Industry experts at Rystad Energy expect global deepwater oil production to surpass 10 million barrels per day (MMbbl/d) in 2019, an increase of 700,000 bbl/d compared to last year, as new offshore fields come online in places such as Angola, Norway and Nigeria.

March 11, 2019