TechnipFMC

Background

TechnipFMC PLC manufactures production and subsea equipment and provides offshore pipelay and construction services. The company was formed through the 2017 merger of France-based offshore pipelay and construction company Technip and subsea equipment manufacturer FMC Technologies. Operations are organized into three business units: Subsea, Surface Technologies, and Technip Energies. Ordinary shares are listed on the NYSE (FTI) and Paris (FTI) exchanges. FMC was originally an abbreviation for Food Machinery Corp.

John Bean founded Bean Spray Pump in 1884 and which was renamed FMC in 1928. FMC entered the oil and gas industry with the acquisition of Weco and Chiksan fluid control companies in 1955 followed by Wellhead supplier Oil Center Tool (OCT) in 1957. Technip was founded by Institute of French Petroleum (IFP) in 1958. Cybernetix was founded in France in 1985. FMC acquired Kongsberg Offshore in 1993 and wellhead supplier CBV in 1998. FMC Technologies was divested from FMC Corp. in 2000.

Technip acquired France-based upstream engineering & construction company Coflexip in 2002 who had just purchased Aker's deepwater division. FMC acquired Multi Phase Meters (MPM) and Direct Drive Systems in 2009. In 2011, Technip acquired pipelay company Global Industries and Cybernetix. The joint venture Forsys Subsea was formed in 2015 between Technip and FMC, and ROV company Schilling Robotics was acquired by FMC in 2015. Technip and FMC combined in 2017 to form TechnipFMC which acquired the remaining shares of Kanfa the same year.

Company Details

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Operated Facilities

Well Servicing

3
22

Oil & Gas Production

3
11
6
16
1

Energy Transfer

2
6

Equity Holdings

Marine Construction

51%

Oil & Gas Extraction

100%

Petroleum Refining

31%