Spectacular growth expected in oil and gas production exploration. - Investment in oil and gas production and exploration is expected to experience further spectacular growth in 2012, boosted by high per barrel prices. This forecast was made in the annual IFP Energies study. After having leapt by 13% in 2010 and 20% in 2011, these prices are still expected to increase by 13%, to reach a figure of $640 billion, according to the study. The trend is expected to continue through 2013, with another 13% increase. All the regions in the world are experiencing this trend, but the anticipated rise in 2012 will be particularly sharp in Europe (+26%), especially in the British North Sea (+33%), where companies are seeking to stem the decline in mature oil wells, as well as in countries belonging to the Communities of Independent States (CIS) where a number of other companies such as Lukoil and Neftegaz, have significantly increased their spending. Growth in the Middle East, however, will slow down, signifying a pause after the 50% spike last year. In 2013, all zones in the world are also expected to experience significant growth. It will mainly be the offshore markets which benefit from this investment, although in the geophysical sector, activities at-sea are increasing by 8% and those on land falling by 9% (outside North America where they remain stable). The market is, however, much less euphoric in the refinery sector. Investment in this field remains stable overall ($69 billion in 2012, $71 billion forecast for 2013). The situation varies according to each specific region. In northern Europe, the number of projects is stagnating or decreasing, while in the Middle East and Pacific Asia it is sharply increasing. In the medium term, this could worsen overcapacity in the event of falling fuel demand. (IL/transl.fl)