Four major oil companies said on Feb. 17 they are ready to deploy an interim system to cap future leaks in deepwater oil wells, paving the way for deepwater activity to resume. The system was created by the Marine Well Containment Co., a consortium formed by ExxonMobil, Shell, ConocoPhillips and Chevron after the Bureau of Ocean Energy Management, Regulation and Enforcement required that such a system be in place before it issues any new deepwater drilling permits in the Gulf of Mexico. The new device, made by Trendsetter Engineering, Houston, includes a subsea capping stack with the ability to either
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.