TechnipFMC to split, spinning off onshore, offshore segments

Company seeing the beginning of a shaping of industry. TechnipFMC announced that company will open a new facility in Speers, Pennsylvania. TechnipFMC recently partnered with Argentine oil and gas producer YPF S.A. TechnipFMC celebrated the first steel cut of the manifolds and subsea structures for CNOOC’s Liuhua 16-2 Oilfields development. TechnipFMC is preparing for the relocation of its Parisian teams early 2021 in a brand new building currently under construction.

It integrate where it clearly adds value to the customer. TechnipFMC announces the recent completion of the construction of the new Boehringer Ingelheim Respimat plant. ConocoPhillips has rewarded oil and gas leader TechnipFMC’s client commitment with a Global Supplier. Timing needs to be a function of the business environment, markets and leadership. TechnipFMC was honored with a prestigious OTC Spotlight on New Technology award for its Subsea 2.0.

“There are very few synergies between upstream and downstream”, said chairman of the board and CEO Douglas J. Pferdehirt.

TechnipFMC in joint venture with Fluor, announced it has safely completed its engineering, procurement. It looks like there could be no better time than now. TechnipFMC’s new Speers facility will bring together its Surface product and service lines. It setting fracing records at the Vaca Muerta Formation in the Neuquén Basin in northern Patagonia. TechnipFMC announced its board of directors has unanimously approved its plan to separate into two independent.

The international awards go to businesses that have made an impact on ConocoPhillips business. TechnipFMC’s Subsea 2.0 In-Line Compact Robotic Manifold has transformed the traditional manifold design. TechnipFMC/Fluor resources will provide assistance to the Sasol team at the LCCP project. RemainCo is a fully-integrated technology and services provider. The milestone took place in Jutal’s Zhuhai yard in China. The Campus will be one of its two operational headquarters, the other one being based in Houston.

TechnipFMC was recognized in the ‘Focus on Doing Business Better’ category for its collaborative work. It continuing to drive energy development and SpinCo, a leading engineering. The compact manifold design reduces size, weight and manufacturing cost. The TechnipFMC and Fluor joint venture has provided EPCM services since the project FID in 2014. The transaction is expected to be structured as a spin-off of TechnipFMC’s Onshore/Offshore segment.

It brought a step closer to completion in this engineering, procurement, construction, installation. TechnipFMC’s future campus is a flagship for its Parisian teams as well as a strategic project. TechnipFMC carried out the Engineering, Procurement and Construction Management (EPCM). TechnipFMC worked collaboratively with ConocoPhillips and its contractors to perform joint estimating assessment. The separation is expected to be completed in the first half of 2020.

This is an important milestone for the project and is another step towards delivery. The building is innovative as much in its architectural and interior design. Managed from TechnipFMC offices in Barcelona since the first design phases. It reduced the project’s cost of supply and shortened its schedule by 15 months. It incorporates a robotic arm for valve actuation, can be installed using the same vessel. It subject to customary conditions, consultations and regulatory approvals.

TechnipFMC and YPF, along with Halliburton, achieved the highest number of frac stages pumped in a 24-hour. The Liuhua 16-2 Oilfields Development Project is a strategic project for the China National Offshore Oil Corporation. All outstanding shares of SpinCo will be distributed to existing TechnipFMC shareholders. The product is designed to be half the size and weight of its conventional counterpart. The complex features a 1.5-million-ton-per-year ethane cracker based on TechnipFMC.

“Since the creation of TechnipFMC, we have pioneered the integrated business model”, said Doug Pferdehirt, chairman and CEO of TechnipFMC.

The board of directors and management team have continuously evaluated strategic options. he new compact manifold integrates all the functions of the conventional manifold pipe work. After a comprehensive review, determined that it is in the best interest of TechnipFMC. The project at Vaca Muerta reflects our core value of “achieving together”. The project consisted in the design and construction of a new plant. It confident that the separation would allow both businesses to thrive independently within their sectors.

TechnipFMC and YPF achieved a successful objective that helps optimize the production. The contract covers 26 units of Enhanced Horizontal Christmas Trees (EHXT). The project team is associating to employees to contribute to create a collaborative environment. The programme is one of the ways that celebrate the efforts of suppliers. The result is a simpler manifold that can be produced with 10-times fewer parts. The Lake Charles Chemical’s Project (LCCP) complex also includes six downstream chemical units. It enabling each to unlock significant additional value.

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