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SPE.org 

Subsea inspection/repair/maintenance services have traditionally relied on vessel-based, ROV, or diver operations. In the longer term, identifying significant incremental savings in these operations is not sustainable and an innovative approach deploying digital technologies is being investigated. GATE will provide facility commissioning and Subsea 7 will provide a pair of infield production flowlines and the umbilical system for Shell’s recently sanctioned deepwater GOM development. Executives from several service companies involved in the offshore space—including two sides of a recent hostile takeover bid—came together at OTC to discuss the virtues of collaboration and rationale behind M&A. McDermott’s board of directors rejected an acquisition offer from Subsea 7, which called for McDermott to abandon its planned $6-billion combination with CB&I.