KBR
MIDDLE EAST can still make money at the prevailing market rates . We must not forget that the cheapest oil in the world is produced from onshore oil production in the Middle East .” Their offshore oil is also relatively cheap because the waters are shallow and benign . The rest of the world is producing oil from deep and hostile waters , fields a long way from shore , using extensive subsea techniques and complex equipment like FPSOs , often in hostile conditions .
“ Beyond accessibility and proximity lies capacity . Look forward a century , and whatever progress renewables have made there will still be a demand for hydrocarbons . Where will these be found ? Many oilfields will have come and gone but the one territory that will be still there
SEGAS LNG is a liquefied natural gas complex in Damietta , Egypt
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