OTC: Nothing to See Here

When Claudi Santiago looks to the future of the offshore oil and gas business, he sees nothing — on the ocean surface, that is.
One day, the work of thousands of offshore platforms now in the Gulf of Mexico and other waters will be done on the sea floor, completely out of view, the CEO of GE Oil & Gas said Wednesday in a speech at OTC.
“Our vision is that one day everything, even power (generation), will be done subsea,” said Santiago, whose company develops equipment for subsea oil and gas processing.
The transition will not only reduce the industry’s impact on the environment, but be far more efficient, since it significantly reduces the amount of infrastructure needed to produce oil and gas in offshore areas.
But when asked by if he envisions a day when offshore drilling would also be done underwater, he said the company has not gotten that far, but expressed doubts about such an idea.
“Sometimes, I say to my team, there is a difference between a vision and a hallucination,” he said.
–Brett Clanton