In Oilfield Equipment (OFE), we provide customers with a portfolio of ultra-reliable technologies, including subsea trees, manifolds, blowout preventers (BOPs), flexible risers and advanced control systems. We harmonize and integrate our products and services across our fullstream portfolio to provide customers with a single point of contact.
OFE has a long heritage of innovations and inventions. Our portfolio of products and services is complemented by safe and high-quality execution, engagement at the earliest project phases, innovative commercial approaches and digital capabilities.
POSITIONED TO WIN
In 2017, the subsea market continued to be challenging. Demand increased throughout the year but remained well below the industry’s peak levels. The short-term outlook for subsea activity remains challenging, but we see sustained demand for offshore developments longer term. We are positioning the business for the future, focusing on simplifying our product offerings and sustainably lowering product and installation costs. We are also expanding our portfolio to improve system efficiencies and developing local capabilities to better serve our customers.
Together with our customers, we are focused on significantly lowering the total development costs of subsea fields. We are developing new subsea tree systems that will be lighter and significantly lower cost compared to conventional offerings with similar functionality.
We continue to have a leading position in deepwater gas system applications, while our advanced and ultra-reliable subsea control systems offer a robust solution for new and existing offshore production projects. Our asset performance management solutions help convert field data into actionable insights to improve BOP system reliability and availability.
We also consolidated multiple product lines and are leveraging new digital technologies to optimize factory processes, improve execution and increase the availability of our subsea production systems.
PRODUCT AND SERVICE PORTFOLIO
Subsea Production Systems and Services
Subsea Drilling Systems
Flexible Pipeline Systems
Surface Pressure Control and Offshore