OTC: Deepstar focused on subsea equipment

05/13/2013
Advances in deepwater technology require financial commitment by oil companies and a willingness to form partnerships with vendors and regulators, panelists discussing the DeepStar research and development collaboration told an opening session of the Offshore Technology Conference in Houston. Chevron Energy Technology Co. manages the overall administration of the consortium, which includes 11 oil company members. In addition, 70 contributing members include service companies, manufacturers, and universities. Steve Thurston, vice-president of deepwater exploration and projects for Chevron North America Exploration & Production Co., said technology development takes years. The goal is t...
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