By Elizabeth Adams
Of DOW JONES NEWSWIRES
ABERDEEN, Scotland -(Dow Jones)- The future of the oil and gas industry lies in the development of subsea-processing technologies, executives at FMC Technologies Inc. (FTI) said Wednesday.
"It's unusual in our industry that one technology can solve as many problems as it does," said FMC Technologies Executive Vice President John Gremp.
"There's a compelling argument for subsea. It's cost effective, compared to topside developments, it increases [oil] production and recovery rates, and it enables companies to develop new fields in extreme environments," he added.
Company Web site: www.fmctechnologies.com
-By Elizabeth Adams, Dow Jones Newswires; +44 (0) 7789 070 028; elizabeth.adams@dowjones.com