By Dominic Chopping
Norwegian offshore engineer Subsea 7 S.A. (SUBC.OS) will form an
alliance with Houston-based OneSubsea as the companies join forces
to work on subsea developments, it said Monday.
The alliance will combine resources to collaborate on selected
projects, focussing on subsea production systems and subsea
umbilicals, risers and flowlines system solutions.
"This combination...provides clients with the opportunity to
significantly improve subsea field economics over the lifetime of
the development," said Subsea 7 Chief Executive Jean Cahuzac. "We
will be able to capitalise on the synergies between our strong
technology portfolios and develop joint technologies to improve our
offering for our clients."
OneSubsea is a subsea engineering joint venture formed in 2013
by oil and gas service companies Cameron International (CAM) and
Schlumberger (SLB).
At 0812 GMT Subsea 7 shares traded 0.9% higher at NOK74.95.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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