"McDermott really is a story about turnaround and transformation focused on diversification rather than consolidation," Dickson said. Partnerships also continue to take shape in the subsea sector. This includes Schlumberger and Subsea 7's plans to form a joint venture that builds on the success of their Subsea Integrated Alliance. The alliance merged the subsurface, subsea production system and subsea processing systems skills of Schlumberger's OneSubsea with Subsea 7's subsea umbilical, riser and flowline systems expertise. Olivier Le Peuch, president of Cameron Group, a Schlumberger company, said the alliance is moving to the next level with life-of-field technology advancements and performance-based delivery. In addition to lowering costs, making subsea developments more attractive and competitive requires more cooperation with operators, more integration, taking risks and investing in optimization and digital assets, Le Peuch said.