ENERGY INVESTMENT ON THE UP
According to the latest EIC Monitor report from the Energy Industries Council (EIC), investment activity across the global energy project landscape is growing. Figures show a substantial increase in total estimated investment in the second quarter of 2013.
The report shows that there has been a 28 per cent increase on the estimated investment value of US$ 342 billion of new projects across the global energy supply chain, compared to the first quarter of this year.
At a closer look the report highlights that in Q2 2013 there have been 63 new projects in the upstream sector, totalling US$ 48.8 billion, 63 new projects in the midstream sector totalling US$ 88.3 billion in and 67 new projects in the downstream sector, totalling US$ 104.3 billion in Q2 2013.
Commenting on the report findings, Patrick Phelan, managing director of Aquaterra Energy, said: “Our industry is buoyant and thriving with significant growth in all sectors and we are busy maximising all opportunities, with seamless team delivery of end-to-end projects, from conceptual design, and engineering analysis to construction and installation, across multiple markets. With offices in England, Scotland, Asia-Pacific and USA, we are well placed to deliver offshore engineering solutions on a global scale.”