“I am as embarrassed as everyone else about the cost curve in the industry in the last few years,” said Tore Halvorsen, senior vice president of subsea technologies at FMC, at the ONS conference in Stavanger.
“It is unsustainable. We have to break the curve, to change.”
The biggest opportunity for cost reductions can be found within technology improvements, accounting for about 50% of the total potential, according to Halvorsen.
“We
