Deepwater oil and gas projects will continue to be "pillars of supply" for the world's energy needs despite unstable prices and high-risk exposure in remote areas, industry panelists said during a conference in Houston. Offshore fields have produced almost 70% of key discoveries in the past decade, said Bob Fryklund, a director with IHS CERA. Major finds "are still being made," said Jim Demarest, an executive with Noble Energy.

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