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Hydrocarbon production currently occurs in a variety of onshore and offshore locations. Most offshore production in shallow water (< 500 m) has reached maturity, with most of the more accessible reserves having already been exploited. As a result, exploration and production in offshore environments has been extended to deeper water (> 500 m), which usually incurs more expense and overall project risk for operators and service providers. Production from deepwater oil fields is expected to grow by 40%, to 10 million bpd (10% of total global output), by 2025.
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