Quest’s long-term subsea tree award forecast flat compared to May forecast

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Minor adjustments to Quest’s long-term subsea tree award forecast are applied as the oil price continues to fluctuate. The majority of the adjustments were made to the North Sea, the US GoM and Brazil. Cost concerns around North Sea projects continue to delay projects, marginal field development and infrastructure-led drilling are delayed in the US GoM and Petrobras continues to work through internal challenges before materially increasing their subsea tree demand near-term.


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