As more and more companies begin to look further offshore to deepwater and ultra-deepwater drilling in 2013, subsea infrastructure is going to be a bigger and bigger part of the drilling business. This is a sector that FMC Technologies (NYSE:FTI) had almost entirely to itself, but now Cameron International (UNKNOWN:CAM.DL) and Schlumberger (NYSE:SLB) are entering into a joint venture in the subsea space. In this video, Motley Fool energy analyst Taylor Muckerman tells us just how much of an impact this will have on FMC, what advantages the Cameron and Schlumberger team may have, and what advantages FMC has over its new competition.

Joel South owns shares of Schlumberger. Taylor Muckerman has no position in any stocks mentioned. Motley Fool newsletter services recommend FMC Technologies, National Oilwell Varco, Statoil, and Total. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.