Deepwater Industry Standardization, Collaboration Could Cut Costs but Likely Won't Happen

SUGAR LAND--May 31, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Splitting the bill, reusing materials and buying pre-made rather than custom are great ways to save money. These simple strategies are the rationale behind portions of the Deepwater Offshore Industry's push for standardization. Allying with contractors and other operators, involving them at early stages of the project; reusing designs and contractors from one project to the next; and standardizing process equipment, allowing it to be produced ahead of time could save operators significant sums of money on their deepwater projects. However, industry-wide standardization of equipment, one of the larger cost savers, is unlikely as the level of disclosure required is anathema to operators and their engineers. Intra-company and operator-service provider standardization, however may still help the offshore industry stay afloat. Within this article: Describes alliances among offshore companies and service providers such as Anadarko Petroleum Corporation (NYSE:APC) and FMC Technologies Incorporated (NYSE:FTI).