TechnipFMC

TechnipFMC plc (/ˈtɛkniːpɛfɛmsiː/ Tek-NEEP-ef-em-see) is a French-American, UK-domiciled global oil and gas company that provides services for the energy industry. The company was formed by the merger of FMC Technologies of the United States and Technip of France[1] that was announced in 2016 and completed in 2017.

TechnipFMC plc
TypePublic limited company
ISINGB00BDSFG982
IndustryPetroleum
Predecessors
Founded17 January 2017 (2017-01-17)
Headquarters
Area served
Worldwide
Key people
Douglas Pferdehirt (CEO)
ProductsOffshore, subsea Project management, engineering, procurement & construction for the energy industry
RevenueDecrease US$6.7 billion (2022)
Decrease US$219.6 million (2022)
Increase US$–61.9 million (2022)
Number of employees
23,000
Websitewww.technipfmc.com

TechnipFMC acts in three distinct segments: subsea, offshore, and surface projects. These projects include offshore oil and gas exploration and extraction platforms/rigs. The company is legally domiciled in the UK, and has major operations in Houston and Paris where its predecessor companies were headquartered. It has about 23,000 employees from 126 nationalities and operates in 48 countries. TechnipFMC stock is listed on the NYSE, and is a component of the Russell 1000 Index and the Dow Jones Sustainability Index.[2]

History

TechnipFMC was formed through the merger of FMC Technologies Inc. and French oil-services Technip SA. On January 17, 2017, TechnipFMC announced that it is operating as a unified company after completion of the merger, which created a significant new player in an energy industry wracked by a nearly two-year slump in crude prices. The company has three headquarters in Houston, Paris, and London. The CEO is Doug Pferdehirt and the executive chairman is Thierry Pilenko.[3] TechnipFMC also provides consulting and technology business through its two subsidiaries, PT and Genesis. Through 2016-2017 the TechnipFMC fleet expanded with the addition of four pipe-laying vessels (PLSVs) constructed under the DOF-Technip partnership, two foreign (Skandi Açu and Skandi Buzios) and two Brazilian (Skandi Olinda and Skandi Recife).[4] Another ship who entered operations was the Deep Explorer, one of the most advanced diving support vessels (DSV) in the world.[5]

In August 2019, Doug Pferdehirt announced that TechnipFMC will be split into two independent engineering companies. The separation is expected to be completed by the end of the first semester 2020. The former Technip entity, without the subsea business, was renamed Technip Energies. On March 15, 2020, the group announced the suspension of the spin-off due to market conditions in the context of the COVID-19 pandemic. In February 2021, the spin-off was completed.[6]

Recent projects

Fleet of vessels

TechnipFMC owns and operates 21 vessels and 4 are under construction. These large vessels are used for installation of subsea oil extraction systems on the seabed. They are of four categories.[12]

Flexible-lay & Construction vessels:

  • Deep Orient
  • Skandi Africa
  • North Sea Atlantic
  • Deep Star

Diving & multi support vessels:

  • Deep Arctic[13]
  • Deep Explorer
  • Deep Discoverer

Rigid S-Lay & heavy lift vessels:

  • Global 1200

Rigid Reel-lay & J-Lay vessels:

  • Apache II
  • Deep Blue
  • Deep Energy

Manufacturing plants

TechnipFMC designs and manufactures Umbilical cable and flexible pipes. It has flexible pipe manufacturing plants in France, Brazil and Malaysia. It operates umbilical production facilities in UK, United States, Angola, Singapore, Brazil and Malaysia. TechnipFMC has started Modular Manufacturing Yard at Dahej in Gujarat state of India in 2017.[14]

Controversies

In 2010, the company's Paris-based predecessor (Technip) was fined $240 million for paying bribes to win contracts to build a liquefied-natural-gas plant in Nigeria.

In June 2019, TechnipFMC agreed to pay around US$300 million to resolve allegations it bribed government officials in Iraq (FMC) and Brazil, including at the country's state-controlled oil-and-gas company Petróleo Brasileiro S.A., also known as Petrobras.[15]

See also

References
  1. "FMC Technologies, Technip to merge". Offshore Magazine. 2016-05-19. Retrieved 2017-05-29.
  2. "2018 Dow Jones Sustainability North America Index" (PDF). 2 June 2022.
  3. "TechnipFMC launches as newly merged offshore giant | Fuel Fix". fuelfix.com. Retrieved 2017-02-27.
  4. "PLSV Skandi Vitória and Skandi Niterói in new contracts with Petrobras". www.dof.no. Retrieved 2017-02-26.
  5. admin (2016-11-14). "Technip introduces new diving support vessel Deep Explorer". Technip. Retrieved 2017-02-26.
  6. "Spin-off complete: TechnipFMC and Technip Energies become two separate entities". Upstream Online. 2021-02-16. Retrieved 2023-06-16.
  7. "Trestakk Oil Field - A Barrel Full". abarrelfull.wikidot.com.
  8. "TechnipFMC plc". www.technipfmc.com.
  9. "TechnipFMC". www.facebook.com. Retrieved 2019-06-22.
  10. admin (16 December 2014). "Technip awarded a €100 million Onshore Oil & Gas Terminal project by ONGC in India".
  11. "TechnipFMC plc". www.technipfmc.com.
  12. admin (14 August 2014). "Vessels".
  13. TechnipFMC - Deep Arctic, one of our diving vessels,..., retrieved 2019-06-22
  14. "TechnipFMC inaugurates India yard". www.theoilandgasyear.com. 7 February 2017.
  15. "TechnipFMC Agrees to Pay Around $300 Million to Resolve Foreign Bribery Probes in U.S., Brazil". Retrieved 25 June 2019.
  • Official website
  • Business data for TechnipFMC plc:
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