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Epstein File EFTA01367368: Offshore (DS10)

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This document contains investment analysis discussing long-term production growth challenges related to declining near-term exploration spending in offshore and unconventional energy sectors, and references aggressive adoption of enhanced oil recovery (EOR) techniques.

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In our view, longer-term production growth will suffer from a decline in near-term exploration spend particularly in **offshore**/unconventional, further pushing
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aggressive adoption of EOR techniques in the play. b) Long-term production growth challenged from a decline in near-term exploration spend particularly in **offshore**

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