Correct. The subsea industry does not have a huge blockbuster type of company yet. I believe an explanation for this is that deepwater was not practical 10 years ago. Now, with technology growing rapidly and the fact that reserves are becoming harder and harder to find, I think there is huge potential.
I now from working on the rigs in the UK from 2001-2006 that Subsea7 was a division of Haliburton until 2005 or 2006 I think. They then sold it off.
To be honest, I think that DPDW would be an ideal take over target for Schlumberger now that they are getting more and more into integrated project management with national oil companies.
Just my thoughts.
-faz
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