Growth in exploration and production (E&P) budgets is about to slide into negative territory for the first time since 2009, the year after the global economic crash, say analysts.
E&P spending has been, perhaps, the single largest universal point of discussion in the offshore sector, across all segments, since the start of 2014 and for good reason. Oil company budgets are no less than the lifeblood of the sector, ultimately the source of income for offshore shipowners and pay the bills for anything and everything of oil service players, such as those in subsea, seismic and drilling.
Until
