Proserv Group recently formed a strategic partnership with Houston-based Dril-Quip Inc. that will allow for a bundled offering for subsea customers from the oilfield service providers.

In this exclusive video interview, Proserv Controls CEO Davis Larssen explains the driving factors behind the agreement with Dril-Quip and what it means for the subsea sector. 

“The overall market is declining—everybody knows that—so you have to think differently,” Larssen told Hart Energy’s Jessica Morales. “There is a general overcapacity in the broader subsea market. Dril-Quip has taken a very smart step to address that and rather than unnecessarily compete with somebody, partner with somebody.”

Read more about the ProServ and Dril-Quip agreement.

Jump to a topic:

  • Proserv, Dril-Quip subsea agreement (0:34)
  • Driving factors behind the deal (1:19)
  • Bundled subsea packages (2:18)
  • Current subsea sector trends (3:28)
  • Operating during COVID-19 (4:45)
  • Path forward for OFS providers (6:15)
  • Offshore industry outlook (7:30)