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The Offshore Frontier

Marc Edwards: Industry must work to reduce deepwater costs, cycle times

The industry needs to focus on reducing the cycle times and costs for deepwater projects, Marc Edwards, President and CEO of Diamond Offshore Drilling, said at the 2015 IADC Annual General Meeting in San Antonio, Texas.

A recovery in global oil prices will come down the road, but the deepwater sector –which was challenged already at $100 oil, never mind $50 oil – must make changes now to prepare for that next upturn. In particular, the industry must work to reduce the cost of deepwater projects and to shorten deepwater cycle times, Marc Edwards, President and CEO of Diamond Offshore Drilling, said.

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FMC Technologies develops shape memory alloy solution for subsea industry

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FMC Technologies has developed and patented a technology to replace the orbital welding process used to connect small bore hydraulic tubing used in subsea equipment — the Shape Memory Alloy Subsea Fitting. The technology is based on shape memory alloys — a nickel-titanium material that returns to its original shape after subjected to environmental changes such as temperature or pressure.

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