IFP sees stability in 2009 for E&P spending

12/5/2008 | Oil & Gas Journal

Oil services firms should expect exploration and production investments to slow down and stabilize in 2009 even though any kind of forecast in the current economy is "perilous," says Olivier Appert, president of the Institut Francais du Petrole. Oil companies will have to renew reserves to maintain production in the medium and long term, and that ultimately will be the main driver of the market, according to the IFP.

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