An FPSO, export pipeline and floating liquefaction solution is on the drawing board for an ultradeepwater gas discovery in the South China Sea operated by CNOOC.
Deployment of floating production units is predicted to increase; however, analysts think orders for such units will fall in 2015.
Operators seek greater efficiency and lower cost per barrel in a challenging price environment.
About 55% of global demand will be met by oil and gas in 2035, but decline rates make that challenging.
Regulators are working out the details of the agreement as lease sales approach on both sides of the border.