TechnipFMC plc engages in the energy projects, technologies, systems, and services businesses.
The company provides technology to the traditional and new energy industries, delivering fully integrated projects, products, and services. With its proprietary technologies and comprehensive solutions, the company is transforming its clients’ project economics helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambit...
TechnipFMC plc engages in the energy projects, technologies, systems, and services businesses.
The company provides technology to the traditional and new energy industries, delivering fully integrated projects, products, and services. With its proprietary technologies and comprehensive solutions, the company is transforming its clients’ project economics helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Segments
The company operates through two segments, Subsea and Surface Technologies.
Subsea
Subsea segment provides integrated design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipeline systems used in oil and natural gas production and transportation.
The company is an industry leader in front-end engineering and design (‘FEED’), the subsea production system (SPS), the subsea umbilicals, risers, and flowlines (SURF), and subsea robotics. The company also has the capability to install and service these products and systems using its fleet of highly specialized vessels. The company is able to drive even greater value to its clients by integrating the SPS and SURF through more efficient design and installation of subsea field architecture. The resulting improvement in project economics has enabled the successful market adoption of the company’s integrated engineering, procurement, construction and installation model, iEPCI, which serves as the industry standard for integrated project execution.
iEPCI is the company’s unique, fully integrated approach to designing, managing, and executing subsea projects. By combining complementary skills with innovative technologies, the company improves project economics by accelerating time to first oil and natural gas for its clients. iEPCI projects are partnerships based on mutual trust and sharing knowledge. Success is built on early engagement and a collaborative, cooperative approach, both internally and with the company’s clients.
The company’s integrated commercial model often begins with an integrated FEED study, or iFEED (‘iFEED’), where it is uniquely positioned to influence project concept and design through early client engagement, allowing for the highest degree of integration. Using innovative solutions for subsea architecture, including standardized configurable equipment, new technologies, digital services, and simplified installation, the company can optimize field design and layout.
The company’s first-mover advantage and ability to convert iFEED studies into iEPCI contracts, often as direct awards, creates a unique set of opportunities for it. This allows the company to deliver a fully integrated–and technologically differentiated–subsea system, and to better manage the complete work scope through a single contracting mechanism and a single interface.
Following project delivery, the company continues to support its clients by offering aftermarket and life of field services, which include production optimization, asset life extension, debottlenecking, and condition-based maintenance. The company’s wide range of capabilities and solutions allows it to help clients increase oil and natural gas recovery and equipment uptime while reducing overall cost. The company’s integrated life of field offering, iLOF, is designed to unlock the full potential of subsea infrastructures during operations by proactively addressing the challenges operators face over the life of subsea fields.
Subsea Segment Products and Services
Subsea Production Systems (SPS)
These systems are used in the offshore production of oil and natural gas. Systems are placed on the seafloor and are used to control the flow of oil and natural gas from the reservoir to a host processing facility, such as a floating production facility, a fixed platform, or an onshore facility.
The company’s products and integrated systems include subsea trees, chokes and flow modules, manifold pipeline systems, controls and automation systems, well access systems, multiphase and wet-gas flow meters, and additional technologies. The company offers both electro-hydraulic and all-electric SPS, depending on the specific needs of the customer or field. The design and manufacture of the company’s subsea systems requires a high degree of technical expertise and innovation. Some of the company’s systems are designed to withstand exposure to the extreme hydrostatic pressure of deepwater environments, as well as internal pressures of up to 20,000 pounds per square inch (psi) and temperatures of up to 400º F. The development of the company’s integrated subsea production systems includes initial engineering design studies and field development planning, and considers all relevant aspects and project requirements, including optimization of drilling programs and subsea architecture.
Subsea Processing Systems
The company’s subsea processing systems, which include subsea boosting, subsea gas compression, and subsea separation, are designed to accelerate production, increase recovery, extend field life, lower greenhouse gas (‘GHG’) emissions, and lower operators’ production costs for greenfield and brownfield applications.
Subsea Umbilicals, Risers and Flowlines (SURF)
The company provides SURF infrastructure. The company develops, engineers, manufactures, and install umbilicals, flexible, hybrid-flexible and rigid pipelines, connections, and tie-ins for subsea systems.
The company offers a comprehensive range of umbilical systems including steel tube umbilicals, thermoplastic hose umbilicals, power and communication systems, and hybrid umbilicals.
The company engages in the design and manufacture of flexible pipe that consists of the combination of plastic and steel layers that can be easily adapted to the diverse requirements of subsea developments. The company is also the industry innovator in ‘hybrid-flexible’ pipe, which utilizes unique and proprietary thermoplastic composite materials to meet the needs of the most challenging production environments. The company’s rigid pipes are designed to optimize flow assurance through innovative insulation coatings, electric trace heating, plastic liners, and pipe-in-pipe systems.
Vessels
The company has a fleet of 16 vessels, which typically perform the installation of its products and systems. The company has sole ownership of eight vessels, ownership of six vessels as part of joint ventures, and two vessels operated under charter agreements.
Subsea Services
Subsea Services provides a portfolio of Well and Asset services that drive value and efficiency throughout the life of the company’s clients' subsea development cycle.
Well Services include all service offerings for the well:
Remotely Operated Vehicles (ROVs): ROV drill and intervention support services through supervised autonomy and support services, enabled by Schilling Robotics, TechnipFMC’s underwater robotics group;
Drilling: Exploration and production wellhead systems and services;
Installation: Installation of subsea production and processing systems and completion of the well; and
Intervention and Plug & Abandonment (P&A): Rig and vessel-based well intervention services and subsea P&A.
Asset Services include all service offerings toward the producing asset, including SPS, SURF, and subsea processing:
Maintenance: Test, modification, refurbishment and upgrade of subsea equipment and tooling;
Asset integrity: Optimizing the performance of the subsea asset through product and field data, including inspection, maintenance, and repair (‘IMR’); and
Production management: Enhanced well and field production, including real-time virtual metering and flow assurance services.
Robotics
The company’s Schilling Robotics business is the leading designer and manufacturer of subsea ROVs, ROV tooling systems, and robotic manipulator arms. The company continues to revolutionize deepwater productivity–enabling safe and more challenging subsea developments through its advanced and industry-leading robotic technologies.
Subsea Studio Digital Platform
Through Subsea Studio, the company connects data, technology, and expertise to optimize the development, execution, and operation of and future subsea fields. The company’s open ecosystem connects applications using common data models throughout a project’s lifecycle and can exchange data with suppliers, partners, and clients, providing immediate access to information to improve the efficiency and quality of decisions and planning.
Dependence on Key Customers
The company’s customers in the Subsea segment are major integrated oil companies, national oil companies, and independent exploration and production companies. Three different customers accounted for 18%, 13%, and 11%, of its consolidated revenue in 2024, respectively. The company’s list of customers has expanded to more than 40 unique clients, which has allowed it to further diversify its dependence away from any single customer.
Competition
The company’s competitors include Baker Hughes Company, Innovex International, Inc., McDermott International, Inc., NOV Inc., Oceaneering International, Inc., OneSubsea, and Subsea 7 S.A.
Strategy
The company’s offering is enabled by its digital solutions and products that unlock new possibilities for growth in energy resources. Through the company’s established services and transformative offerings, including iEPCI and the Subsea 2.0 Configure-to-Order (‘CTO’) platform, it is making energy produced offshore more sustainable and competitive with alternative sources.
Surface Technologies
Surface Technologies segment designs, manufactures, and services fully integrated products and systems used by companies involved in conventional and unconventional land and shallow water exploration and production of oil and natural gas, as well as specialized equipment supporting integrated carbon transportation and storage, hydrogen storage, and geothermal production. Surface Technologies provides integrated solutions for onshore applications in drilling, stimulation, production, measurement, digital, and services globally.
Principal Products and Services
Drilling
The company provides a full range of drilling and completion systems for both standard and custom-engineered applications. The client base for drilling and completion offerings is energy production, transportation, and storage companies.
Surface Wellheads and Production Trees
The company’s products are used to control and regulate the flow of oil and natural gas from the well. The wellhead is a system of spools and sealing devices from which the entire downhole well string hangs and provides the structural support for surface production trees. The production tree consists of valves, actuators, and chokes which can be combined into various configurations, depending on client-specific requirements. These systems are designed for onshore unconventional, onshore conventional, and offshore platform applications, and are typically sold directly to exploration and production operators during the drilling and completion phases of the well lifecycle. The company’s surface wellheads and production trees are used worldwide and include a full range of system configurations from conventional wellheads, to high-pressure, high-temperature production tree systems for extreme production applications.
The company provides services for these systems, including service personnel and rental tooling, life of field maintenance, as well as digital monitoring and remote operational control and automation.
The company’s products are also used for geothermal production and carbon dioxide (‘CO2’) injection, and it has qualified designs to support underground hydrogen storage solutions.
Stimulation and Pressure Pumping
The company’s iComplete offering is the first fully integrated pressure control system for the onshore unconventional stimulation market. The company’s extensive knowledge of flexible pipe, manifolds, and valve technologies has been adapted to make this a very reliable and predictable system. iComplete utilizes the company digital offering CyberFrac to improve safety by eliminating manpower in high-risk areas (‘red zone’), boost efficiency through autonomous operations, and reduce unplanned stoppages by using predictive analytics. The company’s system can also manage continuous pumping on multi-well and multi-pad operations and integrate data from adjacent wells.
The company’s system equipment includes fracturing tree systems, fracturing valve greasing systems, hydraulic or electric control units, service-less valves, fracturing manifold systems, and rigid and flexible flowlines, and is designed to sustain the high pressure and the highly erosive fracturing fluid which is pumped through the well in the formation. Exploration and production operators typically rent this equipment directly from the company during the hydraulic fracturing activities. iComplete services include rig-up/rig-down field service personnel, as well as oversight and operation of the system during the multiple fracturing stages.
The company’s digital systems leverage two of its core software products—its proprietary UCOS system for control and automation of assets, and InsiteX for data visualization and analytics. These systems can be deployed in standalone applications, which address client issues and can be integrated seamlessly to form an ecosystem or system level Digital Twin, such as CyberFrac in the company’s iComplete integrated system.
Flexible Pipe
The company supplies flexible pipe and its Coflexip product is an industry standard for drilling and stimulation operations offshore. The company has also adapted this product for use in high-pressure, high-volume stimulation. The company’s PumpFlex, WellFlex, and PadFlex products are incorporated into its iComplete offering and deployed in most of the unconventional operations. The company’s product is the only mechanical solution available today and has demonstrated excellent wear resistance and durability.
Flowline
The company supplies flowline products and services to the oilfield industry. From the original Chiksan and Weco products to its revolutionary equipment designs and integrated services, its family of flowline products and services provides its clients with reliable and durable pressure pumping equipment. The company’s total solutions approach includes the InteServ tracking and management system, mobile inspection and repair, strategically located service centers, and Chiksan and Weco spare parts.
Well Control and Integrity Systems
The company supplies both hydraulic and electrical control components and safety systems designed to safely and efficiently run a well pad, offshore platform module, or production facility. The company’s systems are based on standardized, field-proven solutions and are designed for minimal maintenance during life of field operations.
Production Solution
The company provides industry-leading technology for the separation of oil, gas, sand, and water. These solutions are used in onshore production facilities and on offshore platforms worldwide. The company’s family of separation products delivers client success by increasing efficiency and throughput and reducing the footprint of processing facilities. The company’s separation systems offering includes internal components for oil and natural gas multiphase separation, in-line separation, and solids removal, as well as fully assembled separation modules and packages designed and fabricated for oil and natural gas separation, fracturing flowback treatment, solids removal, and primary produced water treatment. The company’s upstream production offering includes well control, safety and integrity systems, multiphase meter modules, in-line separation and processing systems, compact ball valves for manifolds, and standard pumps. These offerings are differentiated by its comprehensive portfolio of in-house compact, modular, and digital technologies, and are designed to enhance field project economics and reduce operating expenditures with an integrated system that spans from wellhead to pipeline.
Standard Pumps
The company provides complete skid solutions, from design consultation through startup and commissioning. The company offers a diverse line of reciprocating pumps, customized according to the application with pressure ranges available up to 10,000 psi and flow rates up to 1,500 gallons per minute.
Services
The company offers its clients a comprehensive suite of service packages to ensure optimal performance and reliability of its upstream and midstream equipment. These service packages include all phases of the asset’s life cycle from early planning stages through testing and installation, commissioning, and operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment.
Competition
The company is a market leader for many of its products and services. Some of the factors that distinguish TechnipFMC from other companies in the sector include the company’s technological innovation, integrated solutions, reliability, and product quality. Surface Technologies competes with other companies that supply surface production equipment and pressure control products, including Baker Hughes Company; Cactus Wellhead, LLC; SLB; Halliburton Co; Delta US Corporation LLC; and SPM Oil & Gas.
Strategy
The company serves the onshore and shallow water markets from well to export pipeline, providing its clients with reductions in cycle time, and carbon intensity.
Disposals
In March 2024, the company concluded the sale of its Measurement Solutions business to One Equity Partners. As part of the Surface Technologies segment, the Measurement Solutions business encompassed terminal management solutions and metering products and systems and included engineering and manufacturing locations in North America and Europe.
History
TechnipFMC plc was founded in 1884. The company was incorporated in 2015.
