Offshore spending to outrun shale in 201

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Norwegian oil and gas intelligence firm Rystad Energy has predicted that offshore spending will outgrow spending on onshore shale activities in 2019 with offshore subsea service companies set to benefit from it.

Rystad said on Thursday that, at current oil price levels, spending on land rigs, fracking, and other services for the shale industry was likely to stay essentially flat in 2019.

The offshore service market will also feel the effects of the recent oil price slide, according to Rystad, but this sector is nevertheless projected to grow by 4% this year.

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