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BP’s Looney: To remain competitive, costs must be lowered sustainably, not follow oil prices

LooneyFeatured

World energy demand is likely to increase by a third by 2035, according to BP’s forecasts. However, oil and gas will face increasing competition from alternative energy sources over the coming years, BP Chief Executive of Upstream Bernard Looney said at the 2016 OTC on 2 May in Houston...

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Forsys Subsea aims to reduce subsea CAPEX by 30%

Alain Marion (from left), Forsys Chief Technology Officer; Rasmus Sunde, Forsys CEO; Thierry Pilenko, Technip Chairman and CEO; and John Gremp, FMC Technologies Chairman, President and CEO, discussed the merits of the Forsys Subsea alliance at the 2015 OTC in Houston. DC Editor/Publisher Mike Killalea (right) moderated the discussion.

Declining returns due to increasing costs in deepwater projects were a thorn in the eye of operators long before $50/bbl oil. But now, more than ever, trimming CAPEX requirements has become essential to make certain projects economic. To help address this challenge, oilfield service companies FMC Technologies and Technip are teaming up to streamline subsea design, delivery and maintenance through a new joint venture called Forsys Subsea.

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