Abstract
The rising production of Deepwater are reshaping the global market landscape. Global Deepwater production will account for 22% to 25% of international supply in 2035. The role of Deepwater is significant in the future. The oil companies have entered Deepwater fields extensively. New opportunities are emerging, and the number of tenders for deep water blocks is increasing. Deepwater terms are changed to attract more exploration investment to the sector. The efficiency of Deepwater operation has been greatly improved through project optimization and technological progress. Chinese oil company should participate in international competition and cooperation actively, extend and upgrade the whole offshore industry chain to seize the new opportunities.
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