Mermaid Maritime Public Company Limited (“Mermaid” or "Company") announces that Mermaid’s Western Hemisphere business unit (“MSSW”) has recently been awarded seven (7) different subsea projects in the Middle East with an estimated aggregate contract value of USD 11 million.

The various work scopes include subsea survey, inspection, repair and maintenance as well as light construction. The jobs will be performed in various offshore areas of Qatar and in the Kingdom of Saudi Arabia such as Manifa, Safaniya, Zuluf and Tanajib. Most projects will be completed by the end of August 2016.

In particular, Mermaid’s DP2 Dive Support Vessel ‘Mermaid Endurer’ has started working in Qatar on a light construction intervention with an estimated working period of circa 100 days commencing from 8 May 2016.

“Mermaid Endurer is the pride of the fleet of Mermaid, and we are pleased to have the ship deployed once again here in Qatar”, commented Mr. Chalermchai Mahagitsiri, Mermaid’s Chief Executive Officer. “Additionally, the chartered-in DP2 construction barge Mubarak Supporter has just completed a successful cable laying campaign, and will demobilise in the Kingdom of Saudi Arabia over the coming days.”

Mermaid also wishes to announce that Mermaid’s Eastern Hemisphere business unit (“MSSE”) has been awarded a one (1) year extension of its subsea construction support services contract with a major engineering, procurement, construction, installation and commissioning (“EPCIC”) contractor in Thailand serving a major international upstream oil and gas operator.

The current existing contract was originally awarded for a two (2) year campaign ending in December 2016. The term extension expands work service to the end of December 2017. Total estimated value of the two-year contract for 2015 and 2016 is USD 51 million with an expected duration of approximately 325 days.The work scope for the one-year contract extension for 2017 will be similar to previous years although the duration has yet to be determined. The work will be completed using the DP2 Dive Support Vessel ‘Mermaid Commander’ along with diving systems, plus associated equipment and specialist personnel.

“This is the twelfth consecutive year Mermaid is awarded the work. The contract term has been extended for one more year to the end of December 2017”, said Mr. Chalermchai Mahagitsiri. “Our Experienced operational team, strategic local partnerships, strong financial discipline, and quality performance and safety record are key success factors that will ensure that we will survive and thrive in these challenging market conditions”.

Meanwhile, Mermaid’s associate company Asia Offshore Drilling Limited (“AOD”) has secured a three (3) month interim contract extension for its jack-up rig ‘AOD I’. The unit is now committed until July 2016 at a day rate of USD 125,000 effective from January 2016. The contracts for jack-ups ‘AOD II’ and ‘AOD III’ are still due to expire in July 2016 and October 2016 respectively, but with a day rate of USD 125,000 in effect from January 2016.

“The ‘AOD I’, ‘AOD II’ and ‘AOD III’ are high specification jack-up drilling rigs. Built to the popular MOD V B-Class model by Keppel FELS in Singapore, these rigs are on long term drilling contracts from 2013 to 2016 in Saudi Arabia with extension options”, said Mr. Chalermchai Mahagitsiri. “The rigs had undergone customization at client expense to suit working conditions and workplace configuration and have achieved high operational efficiency, safety and reliability since commencement of their respective drilling programs to date. We know that the customer is pleased with its excellent performance and negotiation for contract extensions for all three jack-up rigs is in progress”.

DeepOcean 1 UK Ltd., a subsidiary of DeepOcean Group Holding BV (DeepOcean), has announced that the company has been awarded a contract for the provision of post-lay trenching of a 42km power cable from the shore to offshore United Arabic Emirates. Work will be performed by DeepOcean’s recently upgraded T1 mechanical trencher.

Photo credit: Deep Ocean

The contract award recognizes DeepOcean’s extensive experience of delivering trenching operations world-wide and the company’s flexibility to modify its trenching fleet to meet project specific challenges.

The T1 is a 25 ton self-loading wheel cutter capable of trenching small diameter cables to 20” pipelines in water depths from 0-500m and in soil conditions from loose sands to 40MPa cemented calcarenite. DeepOcean has recently modified T1’s power and cooling system to deliver a cost efficient onshore, shallow and deep water trenching solution that boast an impressive track record having trenched over 1,650km of subsea product to date.

Modifications to T1 were performed in the UK and included trialing the trencher in various soil conditions up to 40MPa with trench depth of 1.2 meters achieved. The T1 was subsequently transported to Abu Dhabi were further successful onshore trials were conducted to test the T1’s cooling system in the regions extreme temperatures. The post-lay trenching works have now commenced offshore Abu Dhabi.

Tony Stokes, Managing Director of Asia Pacific & Middle East, states, “DeepOcean setup its Middle East branch in October 2015. We are extremely pleased to receive this award and it is a testament to the confidence our clients have in DeepOcean’s ability to provide innovative trenching solutions. This project highlights that novel solutions can be found when working closely with our clients that allow DeepOcean to deliver projects in the most cost effective way in a challenging global market. We look forward to a successful campaign and building our presence in the Middle East on the back of our front-end technology and ability to deliver.”

Dynamic Industries Saudi Arabia Ltd. (DISA) announces that on April 3, 2016 Saleh Al-Jewair joined their team as the DISA Operations Manager.

Saleh has over 40 years of experience in the Oil & Gas Industry working in Saudi Arabia for the private and semi-private sectors. His experience includes Vice President of Management Services, Accounting, Training & Career Development, and Contracting. Saleh’s additional experience includes General Management, Business Ethics and Compliance, Director of Human Resources Administration, the installation, testing and commissioning of the Enterprise Resource Planning, (ERP).

During the last 10 years, Saleh worked as a consultant providing Management services for various oil & gas construction companies. Saleh has also worked as a member of merger steering committees for two merger initiatives of construction companies in the Saudi Arabian market place. Saleh also provided training Services to Sabic, Royal Commission, Nesma Group, Shoaiby Group, Riyadh Bank and the Dubai HR Authority UAE.

Saleh’s main focus at DISA will be the recruitment and training of our national work force for EPCI project execution, helping to develop the different disciplines of construction services DISA will offer the Upstream and Downstream market sectors and administrating governmental regulatory requirements.

Saleh is fluent in Arabic and English and has a Bachelor of Science, Accounting from California State University, Fresno.

Neptune announces it has been awarded a contract for the provision of 350 concrete mattresses by McDermott Australia Pty Ltd (McDermott International (NYSE: MDR)).

The mattresses, which will be utilized for flowlines walking mitigation on the INPEX operated Ichthys LNG project, will be manufactured at Neptune’s yard in Batam utilizing heavy density concrete and will weigh approximately 60 ton each in the air. Works commenced in April 2016 under an accelerated production schedule.

Neptune Chief Executive Officer, Robin King, said “the award of this contract follows the successful completion of other related scopes of work for McDermott on the Ichthys project by our stabilization service line. Additionally, Neptune has also performed survey and ROV campaigns on this project in recent years and we are pleased to provide ongoing support to McDermott on this milestone development.”

SeaRobotics Corporation (SeaRobotics) announced the delivery of two USV 4.0, bathymetric, autonomous 4 meter unmanned surface vehicles (USVs) to the Chinese market. The systems were sold and delivered through LinkOcean Technologies Ltd., SeaRobotics’ exclusive representative in China. The units will be used by two prestigious oceanographic institutions, The First Institute of Oceanography in Qingdao, and The Second Institute of Oceanography in Hangzhou to perform bathymetric surveys.

These recent orders leverage SeaRobotics extensive expertise and history delivering USVs for high precision bathymetry, water quality analysis, and hydrographic survey, as well as mine countermeasures, surveillance, targeting, and many other applications. The vehicles were delivered with fully integrated R2Sonic multi-beam echo-sounders, motion reference units, GPS systems, and sound velocity probes, with software from HYPACK to provide a complete autonomous unmanned, high precision, bathymetric survey system.

“The USVs will be used in estuaries and in the coastal zone for bathymetric survey. Dr. Ju Jun from The First Institute of Oceanography, and Dr. Lai Xianghua at the Second Institute of Oceanography, have declared they are very pleased with the performance of the systems,” stated Shuren Qin, President of Link Ocean Technologies.

“We couldn’t be happier with the performance of the systems, as well as the support we have received from Shuren and his team at LinkOcean Technologies who helped develop the initial specification, and supported us during the delivery, training and early operational phases of these systems,” stated Don Darling, President of SeaRobotics.

The Society for Underwater Technology’s (SUT’s) eighth Offshore Site Investigation & Geotechnics (OSIG) International Conference has received substantial support from Fugro, with the company becoming the principal sponsor for the 2017 event.

The conference titled ‘Smarter Solutions for Future Offshore Developments’, takes place from 12-14 September 2017 at the historic Royal Geographical Society in London. The event is attracting a lot of interest with more than 200 abstracts already submitted from potential speakers.

The conference offers an opportunity for geotechnical engineers, geoscientists and academics specialising in offshore topics to share their knowledge and experience. The 2017 conference will focus on new research and developments in site investigation data acquisition, evaluation and integration, geotechnical analysis and design as well as field operational experience.

Tim Dunne, Global Business Line Director for Marine Site Characterisation at Fugro said: “As a leading global supplier of marine geotechnical site characterisation services, Fugro is delighted to continue its support of OSIG. This major conference event provides an unparalleled platform to exchange knowledge and experience with other experts and we are very pleased to be principal sponsor in 2017.”

Dr Bob Allwood, CEO of SUT added: “We enjoy a strong relationship with Fugro and I’d like to express my sincere thanks for their support. Delegates will hear from a range of high profile speakers on new research findings and innovative ideas as to how we can improve efficiency, develop more collaborative approaches and offer innovation towards ‘Smarter Solutions for Future Offshore Developments’.”

OSIG 2017 will look into the challenges currently faced by the offshore oil and gas industry and call for innovative approaches to improve efficiency and rigour in practice. The event will also discuss what the offshore renewable energy industry has identified and addressed, through major research programmes, on key technical issues that must be solved to support its growing strength.

The conference will host the fourth Bramlette McClelland Lecture and a special issue of the EAGE Near Surface Geophysics journal will be published preceding the conference with selected papers to be presented in a dedicated session. A conference dinner will also be held at the Natural History Museum.

A number of sponsorship opportunities remain available. Details can also be found at: http://www.sut.org/event/osig2017/

Technip (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) have announced that the companies will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas. The combined company, which will be called TechnipFMC, would have an equity value of $13 billion based on pre-announcement share prices.

Photo credit: FMC

The companies have entered into a Memorandum of Understanding (MOU) and expect to execute a definitive business combination agreement to combine the companies in an all-stock merger transaction. Under the terms of the MOU, Technip shareholders will receive two shares of the new company for each share of Technip, and FMC Technologies shareholders will receive one share of the new company for each share of FMC Technologies. Each company's shareholders will own close to 50 percent of the combined company.

The transaction brings together two market leaders and their talented employees, building on the proven success of their existing alliance and joint venture, Forsys Subsea, uniting innovative technologies, common cultures and values, enabling rapid integration. The combined company will offer a new generation of comprehensive solutions in Subsea, Surface and Onshore/Offshore to reduce the cost of producing and transforming hydrocarbons. TechnipFMC's flexible commercial model will provide both integrated and discrete solutions to customers across the value chain. With more than 49,000 employees operating in over 45 countries, TechnipFMC generated 2015 combined revenue of approximately $20 billion and combined 2015 EBITDA of approximately $2.4 billion. As of March 31, 2016, the two companies together had consolidated backlog of approximately $20 billion.

John Gremp, Chairman and Chief Executive Officer of FMC Technologies, said, "This is a compelling combination that will create significant additional value for clients and all shareholders, by expanding the success that FMC Technologies and Technip have achieved through our alliance and joint venture, to capitalize on new opportunities and drive accelerated growth." Thierry Pilenko, Technip Chairman and Chief Executive Officer, who will serve as Executive Chairman of TechnipFMC, stated, "Technip and FMC Technologies both have long track records of innovation and commitment to helping their clients meet the challenges of the oil and gas industry. A year ago, we were at the forefront of recognizing the importance of a broader view of our clients' challenges and seized the opportunity that working together in our alliance could bring. Today we want to take this strategy further and across the full footprint of the two companies. We have complementary skills, technologies and capabilities which our customers can access on an integrated basis or separately as they prefer. Together, TechnipFMC can add more value across Subsea, Surface and Onshore/Offshore, enabling us to accelerate our growth. I am confident that we can quickly demonstrate the power of TechnipFMC to our clients, our people and our shareholders."

Doug Pferdehirt, President and Chief Operating Officer of FMC Technologies, who will serve as the CEO of TechnipFMC, added, "Our alliance has shown that as customers evaluate solutions, they are involving us in the process earlier and to a greater degree than ever before. The more they seek our recommendations and new products, the more we differentiate ourselves from the competition. This transaction will allow us to deliver even greater benefits to our customers through a broadened portfolio that provides a unique set of integrated technologies and competencies that are underpinned by a history of developing rich partnerships and creating customer success. We look forward to rapidly bringing together the outstanding employees and cultures of both companies, as well as the complementary capabilities of our organizations, to position the combined company at the forefront of a new generation of solutions for the oil and gas industry."

JDR, a leading UK based supplier of subsea umbilicals and power cables to the offshore energy industry, has been awarded a contract by GE Oil & Gas, on behalf of operator ONGC, for the Vashishta & S1 project.

The Vashishta & S1 fields are located in the KG Basin, 30 – 35 kilometers off the east coast of India, at water depths of 250 to 700 metres. JDR’s scope of supply includes the engineering, design and manufacture of 12 steel tube flying leads and associated hardware. JDR’s technical services team will also provide design analysis for the project including flow and structural analyses and free spanning vortex induced vibration (VIV) analysis.

JDR CEO, David Currie, said: “This contract highlights our world-leading expertise in the supply of specialist umbilicals and cables to the offshore energy industry. We are delighted to support GE and ONGC by providing the critical links to their subsea control system. This contract award is testament to our expert teams who are leading the charge in developing advanced and innovative technologies for the offshore energy sector.”

Flying leads are used to connect subsea trees to umbilical termination arrangements, manifolds and subsea distribution units. They will be manufactured at JDR’s state-of-the-art manufacturing facility in Hartlepool, UK, where the company is currently undertaking a major site expansion, including the commissioning of a world-leading helical assembly machine and additional covered large capacity carousels.

Cyberhawk Innovations, a world leader in unmanned aerial vehicle (UAV) and drone inspection and survey, has bolstered its international presence by signing a partnership agreement with Nordic Unmanned, Norway’s leading UAV operator.

The agreement means that customers in Norway will be able to take advantage of Cyberhawk’s industry leading cloud based asset management software, iHawk, which will be combined with Nordic Unmanned’s detailed local knowledge and UAV experience.

Drones are able to capture close up images of many onshore and offshore assets, including flares. Credit: Cyberhawk Innovations

The partnership reinforces Cyberhawk’s growing global reputation and maintains Nordic Unmanned’s position as the leading UAV company in Norway. Cyberhawk completed the first ever drone inspection on the Norwegian continental shelf in 2013 with a flare inspection on an FPSO (Floating, Production Storage and Offloading), and together the two companies have already successfully completed a number of projects in Norway with major oil and utility asset operators.

Established in Norway as an expert in UAVs, Nordic Unmanned has a highly experienced team which has more than 50 years’ experience in remotely operated technology, and over 30 years’ experience in on and offshore oil and gas competencies.

Since its inception in 2008, Cyberhawk has led the development of the drone/ UAV inspection and survey industry and has achieved more than 25 world firsts, delivering its services in more than 20 countries across Europe, Africa, North America, Middle East and Asia.

The company has also spearheaded the conversion of UAV captured imagery into powerful asset management information in the cloud with its industry-leading iHawk software. iHawk allows intuitive access to inspection data using a simple map-based interface, clearly shows the asset status using a traffic light system and allows the user to ‘drill’ into further engineering commentary and evidence.

Cyberhawk’s CEO, Craig Roberts, said: “This collaboration enables us to effectively address the increasing inspection needs in Norway’s oil and gas and utility sectors, providing both onshore and offshore clients with a local, reliable and proven UAV inspection and survey solution, wrapped up in cutting-edge cloud based asset management software.

“This partnership is a significant step forward in further delivering safe, cost effective UAV and asset management solutions and we are pleased to team up with Nordic Unmanned, a company which shares our approach to innovation and customer service.”

Knut Roar Wiig, CEO at Nordic Unmanned said: “This agreement is a key part of Nordic Unmanned’s strategy to play a major role in the Norwegian Continental Shelf. Together with Cyberhawk, we can provide a high quality, professional service for our customers.”

Chet Morrison Contractors is now certified as a Licensed Inspection & Repair Service Provider for GE Oil and Gas. Specifically, the company’s Deepwater Riser Services’ facility in Houma is qualified for disassembly, inspection and repair of GE Oil & Gas marine drilling risers. It is one of only two such facilities in the state of Louisiana.

“As an approved GE Channel Partner, Chet Morrison Contractors is qualified to perform a variety of inspection and repair services for marine drilling risers on behalf of GE Oil & Gas,” said John DeBlieux, vice president of Deepwater Riser Services. “This certification allows us to issue Original Equipment Manufacturer Certifications of Compliance (OEM COC), enhancing customer confidence in the high quality of our work.”

Chet Morrison Contractors offers a variety of services throughout the riser life cycle, including transportation and maintenance. With an API Q1 Registered Quality Management System, Chet Morrison Contractors’ in-house team of quality and NDT inspectors completes all work on-site under the strictest protocols for quality and safety. The Houma Riser facility is OEM-certified for GE Oil & Gas as well as Trelleborg repair work.

Wood Group has been awarded an evergreen master services agreement (MSA) by Statoil to support the life cycles of its offshore and onshore facilities. Work and services covered by the MSA include engineering studies, detailed engineering, procurement services and management assistance services.

“This MSA reflects Wood Group’s strong relationship with Statoil,” stated Robin Watson, chief executive. “We look forward to leveraging our global knowledge and expertise to provide Statoil with the best technical services for its facilities.”

Wood Group has supported Statoil for many years. Recent work includes four subsea contracts, support for the Statoil Technical Efficiency Program (STEP), and providing maintenance and modification services to four installations on the Norwegian continental shelf (NCS).

Dynamic Industries International LLC. (Dynamic), a full service brownfield construction, fabricator, hook-up and commissioning contractor to the global offshore oil and gas industries, has announced that their Angolan affiliate, Dynamic Angola Contractors (DAC) based in Luanda, Angola has been awarded a contract to provide general construction and fabrication services in support of ongoing operations for a major oil and gas operator. The contract is expected to kickoff 4Q16 and last four (4) years.

Pierre Allard, Country Manager for DAC said, “This award is a great win for DAC and will provide another platform for DAC’s continued development and growth of our skilled Angolan workforce and investment for additional local infrastructure to support this activity”.

Baker Hughes Incorporated (BHI:NYSE) has announced changes to its organizational structure and senior leadership team. The changes follow the company’s May 2 announcement of its plans to capitalize on its leadership position as a product innovator by simplifying its business structure, reducing costs and enhancing its commercial strategy.

Changes include:

Baker Hughes has consolidated its previous regional operations structure into one global organization with responsibility for driving outstanding operational performance, exceptional service and sales execution, as well as delivering strong operating profits. Belgacem Chariag, who was most recently the company’s Vice President and Chief Integration Officer, will serve as President, Global Operations.

Baker Hughes has combined its Technology and Global Products and Services (GPS) organizations to create one global organization responsible for strengthening the company’s technology commercialization and investment strategy. Art Soucy, previously President, Europe, Africa and Russia Caspian (EARC) region at Baker Hughes, will serve as President, Products and Technology. He also will be responsible for optimizing the company’s supply chain and procurement capabilities.

Derek Mathieson will serve as Chief Commercial Officer of the newly formed Commercial Strategy organization. In this role, Mathieson will lead the commercial growth strategy for the company with the responsibility of developing a broader range of sales channels for its products and technology. Mathieson, who previously served as Vice President, Chief Technology and Marketing Officer, also will lead future business incubation efforts as well as corporate development planning and implementation.

Richard Williams, formerly the President of the company’s North America region, will play a critical role in the organizational transitions outlined above. Serving as Senior Advisor to the company’s Executive Leadership Team, Williams will use his extensive operational experience to assist the company in implementing these changes without disruption to operational performance or customer commitments.

“These changes to our organizational design and leadership team demonstrate that we are moving quickly and decisively to execute on the strategy we outlined earlier this month,” said Martin Craighead, Chairman and Chief Executive Officer of Baker Hughes. “While we have more hard work ahead of us, the entire Baker Hughes team is committed to building on our strong foundation as a product innovator to deliver outstanding performance to our customers and significant value to our shareholders.”

All changes noted above were effective as of May 24, 2016.

Offshore Technical Compliance (OTC) has introduced two new IADC-accredited regulatory compliance training programs: an offshore drilling and a marine regulatory compliance training.

OTC’s Offshore Drilling Regulatory Compliance Training is a five-day, 40-hour course held in Covington, La., designed to give participants fundamental knowledge on offshore drilling regulatory requirements and inspection methodology and skills, allowing them to easily identify, explain and resolve potential regulatory and compliance related deficiencies.

OTC’s Marine Regulatory Compliance Training is a three-day, 24-hour course held in Covington, La., intended to provide participants with a deep understanding of marine regulatory compliance and inspection methodology and skills for oil and gas vessels, MODUs, FPSOs and floating production facilities operating in the Gulf of Mexico and in international waters.

“With federal compliance regulations constantly changing, it is more important than ever to ensure not only that your company is operating in compliance with these guidelines, but that your crew has been properly trained to perform their jobs safely,” said Mike Bethea, CEO, OTC. “These courses are designed to provide participants who already possess a basic knowledge of oil and gas related safety guidelines with a deeper understanding of government regulatory agencies and their offshore drilling and marine regulatory requirements to improve the efficiency and safety of your company’s operations as a whole.”

Both interactive training courses are instructor-led via classroom and workshop-style settings using slideshows, handouts and case studies to provide participants the knowledge and resources needed to demonstrate their proficiency in domestic and international regulatory guidelines with an 80 percent pass rate as required by the IADC at the courses’ end.

The first Marine Regulatory Compliance Training course will take place June 27-29th, and the first Offshore Drilling Regulatory Compliance Training course on July 25-29th.

For individual training, please visit OTC’s website at www.otcompliance.com or call 985-727-7400 for enrollment, class dates and more information.

Helix Energy Solutions Group, Inc. (NYSE:HLX) has announced that the Q5000 commenced operations and is working on contracted rates after resolving the previously disclosed start-up issues related to certain subsea equipment.

Although commercial discussions regarding this matter are not concluded and therefore there is still uncertainty surrounding the full financial impact of the equipment start-up issues, the Company currently believes that the range of its previously issued guidance should accommodate this impact. The Company will update guidance at its next earnings release.

McDermott International, Inc. (NYSE:MDR) has joined with 14 other leading offshore companies in signing a Memorandum of Understanding (MOU) to establish engineering industry standards.

Known as the Standardization Unified Joint Industry Project (JIP), the one-year agreement sets out the terms and conditions upon which the signing parties shall establish industry standards for offshore engineering. The objective is to reduce cost and increase predictability without compromising safety in international offshore oil and gas engineering, procurement and construction (EPC) topside projects by using standardized bulk materials and equipment, construction and qualification procedures, and documentation requirements.

Vaseem Khan, Professional Engineer and McDermott Vice President, Global Engineering, signs the Joint Offshore Engineering Standardization Agreement

As part of the agreement, all parties also agreed to comply with all applicable laws, rules and regulations in the performance of the MOU and in particular with all applicable anti-trust, anti-competition and anti-bribery laws.

Joining McDermott for the signing ceremony at Offshore Technology Conference, Houston, Texas were officials from offshore engineering companies Wood Group Mustang, DNV Korea Limited, Technip, Samsung Heavy Industries Co., Ltd. (SHI), Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME), Hyundai Heavy Industries Co., Ltd. (HHI), Royal Dutch Shell, Chevron and MODEC International. Classification societies signing the agreement were American Bureau of Shipping (ABS), Bureau Vitas (BV), Korea Offshore & Shipbuilding Association (KOSHIPA), Korea Marine Equipment Research Institute (KOMERI) and Lloyd’s Register.

Vaseem Khan, Vice President, Engineering for McDermott, said that McDermott welcomes the opportunity to partner with stakeholders, customers and industry peers ”to craft standards that deliver sustainable cost reductions without compromise to safety or operability.”

“McDermott, with its unique and worldwide engineering-through-installation expertise is well placed to understand the challenges of standardization and has built its reputation for engineering excellence over the past 94 years,” Khan said. “As the industry moves to arrest and reverse the cost and schedule inflation of the past decade, a core element is offshore and subsea product standardization with a move to agnostic solutions which are industry specific but operator independent.”