The CEO said he sees the offshore oil sector as a major driver of growth, anticipating 50% growth in offshore investment over the next four years compared to the 2016-19 period.
This is an excerpt from a slightly older article [https://seekingalpha.com/news/3850887-global-oil-exploration-production-spending-ramping-up-schlumberger-ceo-says ], but I see that no one has commented yet.
Any thoughts?
We are steaming towards a massive recession......Schlumberger is not renown for its precise economic predictions.
7 years ago, same predickson and a big layoff after that. I think same will happen.
Deep water is dead. Anywhere infrastructure isn’t already built makes no sense.
Nope, they have said it before. Land is still cheaper and quicker to get going. If investers throw big money at slb they better make sure it is for land use only and not some money pit that slb is famous for.