TechnipFMC to Acquire Remaining Shares of Joint Venture TIOS
29 Juillet 2021 - 10:15PM
Business Wire
TechnipFMC (NYSE: FTI) (PARIS: FTI) intends to acquire the
remaining 49% of shares in TIOS AS, a joint venture between
TechnipFMC and Island Offshore Management AS (Island Offshore)
formed in 2018. This will accelerate the development of
TechnipFMC’s integrated service model focused on maximizing value
to our clients.
TIOS provides fully integrated Riserless Light Well Intervention
(RLWI) services, including project management and engineering for
plug & abandonment, riserless coiled tubing, and well
completion and intervention operations, and has serviced over 740
wells globally since 2005.
The company will continue to utilize Island Offshore as the
vessel provider for RLWI services.
Jonathan Landes, President, Subsea at TechnipFMC, commented, “We
are pleased to welcome TIOS wholly into TechnipFMC. This
transaction brings into the company additional expertise that will
maximize our capability to provide a complete range of well
services globally to our clients in a rapid and economical
manner.”
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Forward-Looking Statement
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Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional
and new energy industries, delivering fully integrated projects,
products, and services.
With our proprietary technologies and comprehensive solutions,
we are transforming our clients’ project economics, helping them
unlock new possibilities to develop energy resources while reducing
carbon intensity and supporting their energy transition
ambitions.
Organized in two business segments — Subsea and Surface
Technologies — we will continue to advance the industry with our
pioneering integrated ecosystems (such as iEPCI™, iFEED™ and
iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a
commitment to our clients’ success, and a culture of strong
execution, purposeful innovation, and challenging industry
conventions.
TechnipFMC uses its website as a channel of distribution of
material company information. To learn more about how we are
driving change in the industry, go to www.TechnipFMC.com and follow
us on Twitter @TechnipFMC.
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