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Oil Producers Try to Go Deep, Get Cheap for Underwater Wells
2015-03-26 22:38:56| Oil & Gas - Topix.net
Trimming costs 20 percent from last year's levels would make the majority of deep-water projects viable at $70 oil, said John Gremp, chairman and chief executive officer of FMC Technologies Inc. FMC, based in Houston, announced plans this week to form a joint venture with France's Technip SA in a bid to reduce equipment costs for its customers. "This is the primary challenge the industry faces today," Gremp said Tuesday at the Howard Weil energy conference in New Orleans.
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cheap
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Category:Energy and Environment