While the industry and public have been focused on unconventional onshore production, offshore oil production has been steadily growing. Many offshore projects reflect long-term financial commitments made before the oil price collapse. They will continue to come online for at least the next couple of years.The Energy Information Administration (EIA) reports eight GOM field startups in 2014 and expects eight more in 2015 and five in 2016. Global offshore production is also growing. The International Energy Agency (IEA) projects that the offshore could deliver 20 percent of global oil production by 2017.
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