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abbeydot
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@poster,
I won't say i'm an expert on this. But these are my thoughts.
Subsea engineering has prospects as much or even more than pipeline engineering, though the main job of a subsea engr. is to work on field developments where the production facilities are to be located on the seabed. Either planning at the main office or being on field. Just work hard, attend career fairs b4 the end of your masters and u could land jobs with major operators or service companies like FMC. Moreover, there are not too many subsea engineers in the world, it's kinda specialized. N u know, so many deep offshore projects are in their developmental stage.
If i had a choice and sponsorship, I'll choose subsea over pipeline engr. All d best.
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