Double Crown Resources Inc. (fka DDCC)

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Is This The Next Major Step In Offshore Drilling?

By Charles Kennedy

Link: http://finance.yahoo.com/news/next-major-step-offshore-drilling-150532954.html

July 16, 2015

Subsea 7 announced on July 13 that it has agreed to form a global alliance with OneSubsea, forming a partnership to build subsea oil and gas production systems.

OneSubsea is a company formed by Cameron International and Schlumberger, two offshore oil service companies. It builds subsea production systems, which consist of equipment installed at the bottom of the ocean floor that produce oil and gas, and then pipe the hydrocarbons to a ship located at the surface of the sea.

The alliance between Subsea 7 and OneSubsea will allow for them to “jointly design, develop and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF) and life-of-field services,” Subsea 7 said in a press release.