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)
Recommended Reading
Trinidad Urgently Needs Fiscal Reforms to Encourage Oil Investments
2022-09-23 - Energy Chamber of Trinidad and Tobago head Thackwray “Dax” Driver says there’s a need to change the Caribbean island’s taxation structure to encourage continued investments.
Investors See US Oil Between $80/bbl and $100/bbl Next Year: Survey
2022-09-20 - 56% of participants at Barclay's CEO Energy & Power Conference indicated they expect global oil inventories to be lower than OPEC+'s September 100,000-bbl/d output cut over the next 12 months.
Mohammad Barkindo, Who Led OPEC in Turbulent Times, Dies at 63
2022-07-06 - OPEC Secretary-general Mohammad Barkindo died late July 5, hours after meeting Nigerian President Muhammadu Buhari and giving the main speech at an energy summit in Abuja.
Oil Firms Seek US Mediation to Defuse Iraq-Kurdistan Tensions
2022-09-01 - Oil firms say intervention is needed to ensure oil continues to flow from the north of Iraq to Turkey to prevent Turkey having to increase oil shipments from Iran and Russia.
EU Proposes Windfall Levies on Energy Firms to Ease Price Pain
2022-09-14 - “In these times, profits must be shared and channeled to those who need it most,” European Commission President Ursula von der Leyen told the EU Parliament.