Subsea tree players awaiting green shoots of recovery

摘要

The subsea tree market has tanked, but the technology remains viable and vital in the long term. When a market has plunged 79% from where it was just three years ago, the first thing to get cut almost immediately is company headcounts followed by brutal contract negotiations. Industry collaborations are launched to share the R&D load, and standardization initiatives are undertaken in a bid to cut out the deep-rooted cancer that is soaring cost.