But a new joint venture aimed at cutting project costs has the potential to convince oil companies to pull the trigger for more subsea spending.
This week’s new partnership between French engineering giant Technip and US-listed FMC Technologies could be a “game changer” for the sector, as the two companies are targeting cost reductions of 30% for their clients.
Various subsea players have noted in the past year that along with standardisation, early involvement in a project is important for lowering subsea costs.
