A cutting tool for cutting a tubular, the cutting tool comprising: a tool housing having a longitudinal axis; a tool head having a longitudinal axis and being rotationally mounted to the tool housing; a cutting element located within the tool head, wherein the cutting element defines a cutting profile and is configured to rotate independent of the tool head; a first drive mechanism operable to rotate the cutting element; and a second drive mechanism operable to control displacement of the cutting element radially with respect to a surface to be cut; wherein the first and second drive mechanisms (120, 122) are independently powered by first and second drive motors (124, 126) respectively; wherein the first drive motor is connected to the first drive mechanism by a first drivetrain which rotates a first gear in the tool head, wherein rotation of the first gear drives a first mechanism shaft, wherein the first drive mechanism comprises a disc gear defining a geared surface which engages with the first mechanism shaft, wherein the disc gear is rotationally fixed to the cutting element such that rotation of the disc gear by the first drive motor results in rotation of the cutting element; wherein the second drive motor is connected to the second drive mechanism by a second drivetrain which rotates a second gear in the tool head, wherein rotation of the second gear drives a second mechanism shaft, wherein the second drive mechanism comprises a gear mounted to an axially extending sleeve which engages the second mechanism shaft and which extends into the cutting element, wherein the axially extending sleeve defines an external surface profile which forms a threaded connection with a complementary profile defined by an internal surface of the cutting element. a tool housing having a longitudinal axis; a tool head having a longitudinal axis and being rotationally mounted to the tool housing; a cutting element located within the tool head, wherein the cutting element defines a cutting profile and is configured to rotate independent of the tool head; a first drive mechanism operable to rotate the cutting element; and a second drive mechanism operable to control displacement of the cutting element radially with respect to a surface to be cut; wherein the first and second drive mechanisms (120, 122) are independently powered by first and second drive motors (124, 126) respectively; wherein the first drive motor is connected to the first drive mechanism by a first drivetrain which rotates a first gear in the tool head, wherein rotation of the first gear drives a first mechanism shaft, wherein the first drive mechanism comprises a disc gear defining a geared surface which engages with the first mechanism shaft, wherein the disc gear is rotationally fixed to the cutting element such that rotation of the disc gear by the first drive motor results in rotation of the cutting element; wherein the second drive motor is connected to the second drive mechanism by a second drivetrain which rotates a second gear in the tool head, wherein rotation of the second gear drives a second mechanism shaft, wherein the second drive mechanism comprises a gear mounted to an axially extending sleeve which engages the second mechanism shaft and which extends into the cutting element, wherein the axially extending sleeve defines an external surface profile which forms a threaded connection with a complementary profile defined by an internal surface of the cutting element.