TechnipFMC

Technip Energies will work on a backlog comprising more than 50% in LNG-related business. Retaining the TechnipFMC name, RemainCo will generate nearly 90% of its revenue outside the US and Canada.

Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.

Subsea advancements in the works include longer tiebacks, an underwater drone that lives on the seafloor, and a robotic manifold capable of actuating dozens of valves. Do these new capabilities, born of necessity, signal a sea change in industrywide technology development?

The service company and independent verifier are aiming to develop a methodology for qualifying the integrity of digital twins, which they say will help level the industry’s varying technical definitions of, and expectations towards, the technology.

After failing to meet a previous 2018 deadline, the owners of the Bonny Island plant say they are close to sanctioning the expansion project following the signing of a letter of intent to a consortium of Saipem Chiyoda and Daewoo for EPC services. Train 7 will add 8 mtpa to Bonny Island’s production

After seeing a significant increase in the price level for subsea equipment, Equinor says it is realizing the ways in which standardized subsea templates help build financial competitiveness. The new standard allowed for the installation of 14 templates in one month.

Upon completion, the FPSO will be the first permanently fiber rope-moored offshore facility in the Mediterranean, processing the reservoir fluids and export sales gas from the Karish and Tanin gas fields offshore Israel.

The transaction is planned to be structured as a spin-off of TechnipFMC’s onshore/offshore segment to create SpinCo and RemainCo. The separation is expected to be completed in the first half of 2020.

One of the company’s pipelay and construction vessels will install rigid and flexible pipelines for Equinor’s Peregrino Phase 2 project, adding an estimated 273 million bbl of recoverable oil to the field.

New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.