FMC Technologies and Technip have signed an agreement to form an alliance and launch a joint venture.
The companies have created Forsys Subsea which they say will “redefine” the way subsea fields are designed, delivered and maintained.
It will focus on early involvement in the concept selection phase of front-end engineering and design, integrated life of oil field well surveillance, monitoring and data interpretation and joint R&D to drive innovation.
Once the joint venture is launched, Forsys Subsea will have a workforce of 320 people and will be supported by the 58,000 employees of FMC Technologies and Technip.
The company will be headquartered in London, with regional hubs in Oslo, Houston, Paris, Rio De Janeiro and Singapore.
The leadership team will include Rasmus Sunde of FMC Technologies as chief executive , Alain Marion deom Technip as Chief Technology Officer, Arild Selvig (FMC Technologies) as leading front end engineering and Gerald Bouhourd from Technip and leading life oil field.
John Gremp, FMC Technologies Chairman, President and Chief Executive Officer said: “The world needs new sources of oil, and deepwater holds the greatest promise of meeting this demand. But these sources are expensive to develop, and operators will not pursue them unless they can significantly reduce costs.
“This requires not just incremental improvements, but step changes and new ways of thinking.
“Service providers must be involved at the project concept stage, provide innovative technology that reduces costs, standardize processes and equipment for greater efficiency, and execute flawlessly.
“The creation of Forsys Subsea with an industry leader such as Technip embodies this new way of thinking to a degree that’s never been done before.”