According to Italian contractors of oil & gas projects Saipem, new orders for offshore plants are likely to see recovery by 2013.
Since the beginning of this year, global offshore ordering activities have weakened due to the European crisis. In the economic depression, many marine energy exploration projects suspended or delayed, thus affecting the demand for oil and gas energy. Saipem estimates that the total offshore orders will see no big change by the end of this year against the beginning.
However, Saipem prospected that major offshore projects will mostly restart by next year and 2013 is likely to see an increase of offshore orders.