Westwood Global – Western Europe subsea EPC spend in 2022 expected to hit highest level since 2013  

Subsea engineering, procurement and construction (EPC) spend in Western Europe in 2022 is projected to reach its highest level in almost a decade.

Analysts at Westwood Global Energy Group say the North Sea will form a “significant part” of that as operators look to cash in on a return to healthy oil and gas prices.

Brent crude topped $110 a barrel on Wednesday, stoked by concerns about global energy security following Russia’s invasion of Ukraine.