Fmc Technologies News

(File photo: TechnipFMC)

TechnipFMC to Split into Two Companies

gas companies.TechnipFMC, which had a market capitalization of $10.31 billion, said the new Paris-based company will deal with onshore and offshore oil and gas projects. The split is expected to be final in the first half of 2020.The spin-off comes nearly three years after Technip merged with rival FMC Technologies, creating a leading London-based offshore services company with combined revenue of $20 billion. That deal closed near the nadir of an oil-price crash, when U.S. crude futures fell to about $26 a barrel and prompted cutbacks in spending on new offshore oil and gas development projects.Shares

(Photo: TechnipFMC)

TechnipFMC: Record Orders, Backlog in Q2

company TechnipFMC received a record volume of orders in the second quarter, pushing its backlog of projects to a peak thanks to new liquefied natural gas projects, it said on Wednesday.The records could signal a rebound for the company created by a 2016 merger of France's Technip and U.S. rival FMC Technologies to weather the oil price crash that had forced their oil major clients to slash budgets and shelve projects."We achieved record inbound orders in the quarter, with total company orders reaching $11.2 billion," Doug Pferdehirt, chairman and CEO of TechnipFMC, said in a statement.Onshore/offs

Arnaud Pieton, President Subsea at TechnipFMC (Photo: TechnipFMC)

TechnipFMC Wins $1 Billion Subsea Contract

scope with its consortium partner Van Oord, through their wholly owned UAE incorporated subsidiary, Van Oord Gulf FZE, and in cooperation with strategic major subcontractor Allseas.In addition, TechnipFMC has been awarded separate contracts under its wholly owned US incorporated subsidiary FMCTI (FMC Technologies Inc.), to provide subsea hardware in support of well construction and the EPCI scope.Arnaud Pieton, President Subsea at TechnipFMC, said, “We are extremely pleased to have been selected for the majority of the Mozambique LNG subsea scope. TechnipFMC will execute its scope utilizing our

Thierry Hochoa (Photo: BOURBON)

Hochoa Takes Over as Bourbon CFO

Director. In 2013, he was appointed Chief Financial Officer of operations in Southeast Asia on the key Yamal project in Shanghai. In February 2016, he became Vice-President Finance & Group Controller in Paris and actively worked on the merger and integration project of Technip with the American FMC Technologies. In April 2018, Hochoa joined BOURBON Corporation as Director of the financial structuring project for the three Standalone Companies created in the context of the #BOURBONINMOTION strategic action plan

(Photo: Subsea 7)

Schlumberger, Subsea 7 Mull Oil Services JV

exclusive talks to form a joint venture to deliver subsea installations and services for oilfields.   The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover, in a sector that has already seen consolidation with the 2016 merger of Technip and FMC Technologies.   In recent months, oil firms have returned to profits due to higher oil prices and the benefits of deep cost cuts they made during the downturn. But their suppliers are still feeling the squeeze and trying to cope with low profitability.   Since 2015 Schlumberger and Subsea 7

Bruce Stuart (Photo: Interventek)

Interventek Appoints Stuart as Business Development Director

Development Director. Stuart brings with him over 30 years of commercial leadership experience and in-depth operational knowledge of the oil and gas industry.  Stuart joins Interventek from Proserv where he was VP Business Development Subsea, having previously held a seven year tenure at FMC Technologies, responsible for U.K. and Canada sales and marketing for their subsea products and systems. This new position at Interventek will support increasing levels of commercialization activity, as new applications for the company’s Revolution valve technology are rolled out. These new configuration

Image: TechnipFMC

TechnipFMC Begins Operations Post-merger

TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip.   Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies, systems and services “from concept to project delivery and beyond” with headquarters in Houston, London and Paris.   A key focus for TechnipFMC will be project economics across subsea, onshore/offshore and surface, the company said in a press release.   "With our merger complete, TechnipFMC is

Photo courtesy of Statoil

Statoil Awards Contracts on Trestakk

Statoil on behalf of the Trestakk license holders, awarding an EPCI contract to FMC Technologies and Technip Norge, and a topside contract to Aker Solutions, for deliveries to the Trestakk development.   FMC Technologies and Technip will jointly deliver an EPCI contract (engineering, procurement, construction and installation) – subsea, umbilicals, risers, flowlines – including subsea template, manifold, subsea trees, completion system, wellheads, pipelines, risers, control systems, control cable and marine operations.   “Statoil has cooperated closely with partners and

FMC Technologies to Pay $2.5 Mln for Overstating Profits

Energy technology company FMC Technologies Inc will pay a $2.5 million penalty to settle charges that it overstated profits in one of its business segments, the U.S. Securities and Exchange Commission said on Thursday.   Two now former executives made the improper adjustments after being pressured to improve the financial performance of the Houston-based company's energy infrastructure department, the SEC said.   FMC Technologies and the two executives consented to the SEC's order without admitting or denying the findings, the agency said.   A spokesman for FMC and lawyers for the

FMC Technologies Wins Boosting Work off Angola

FMC Technologies, Inc. has been contracted to provide subsea multiphase boosting pumps, manifolds and installation support services for Eni Angola's Block 15/06 West Hub Development Project located off the coast of Angola.   The company's subsea multiphase boosting pumps improve production economics by reducing backpressure on the reservoir, increasing flow rates and total recoverable reserves. Multiphase pumps have a wide operating envelope and are suitable for a broad range of conditions.   “This is our second award for our new subsea multiphase boosting system and we are confident

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