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FMC Technologies

FMC Technologies, Inc. was a leading global provider of technology solutions for the energy industry, specializing in the design, manufacture, and service of advanced systems for oil and gas exploration and production. Incorporated on November 13, 2000, as a wholly owned subsidiary of FMC Corporation under Delaware law, the company was spun off through a tax-free distribution on December 31, 2001, becoming an independent publicly traded entity listed on the New York Stock Exchange under the ticker FTI.^[1]^[2] Headquartered in Houston, Texas, FMC Technologies operated primarily through two key segments: Energy Production Systems, which focused on subsea production and processing systems including high-pressure wellhead flow control assemblies (commonly known as "Christmas trees") and surface wellhead systems; and Energy Processing Systems, which supplied high-pressure fluid control equipment, measurement solutions, and marine loading systems for upstream, midstream, and downstream applications.^[3]^[1] The company traced its roots in oilfield equipment to 1927 through the acquisition of Oil Center Tool by FMC Corporation in 1957, evolving into a pioneer in deepwater subsea technologies, such as the world's first vertical subsea tree system for high-pressure, high-temperature (HPHT) fields developed for BP's Thunder Horse project.^[4]^[5] By 2005, FMC Technologies employed approximately 10,000 people worldwide and reported revenues of $3.23 billion, with a strong emphasis on innovation in subsea equipment to support ultra-deepwater operations.^[1] It expanded through strategic acquisitions, including Multi Phase Meters AS in 2009 for advanced measurement technologies and Direct Drive Systems, Inc., enhancing its portfolio in energy processing.^[3] In 2008, the company further streamlined its focus on energy by spinning off its FoodTech and Airport Systems businesses into John Bean Technologies Corporation.^[5] FMC Technologies merged with the French engineering firm Technip on January 17, 2017, in a $13 billion all-stock transaction, creating TechnipFMC plc—a integrated technology and services leader in subsea, onshore/offshore, and surface projects for the global energy sector.^[4] In 2021, TechnipFMC separated its onshore and offshore business into Technip Energies, retaining focus on subsea and surface technologies.^[6] This merger combined FMC Technologies' subsea expertise with Technip's project management capabilities, positioning the new entity to address complex energy challenges amid the industry's shift toward deeper waters and more efficient production methods.^[4]

Overview

Corporate Profile

FMC Technologies, Inc. was incorporated in November 2000 as a wholly owned subsidiary of FMC Corporation and became an independent public company through a spin-off completed on December 31, 2001, via a tax-free distribution of shares to FMC Corporation shareholders. The spin-off separated FMC Corporation's machinery and energy equipment businesses from its core chemical operations, allowing FMC Technologies to focus exclusively on providing specialized equipment and services for the oil and gas sector.^[2]^[7] Headquartered in Houston, Texas, FMC Technologies maintained global operations with 29 major production facilities and services bases across 18 countries, including key locations in the United States, Norway, Brazil, and Malaysia. At its peak before the 2017 merger, the company employed approximately 17,400 full-time workers worldwide. This structure supported its role as a leading provider of engineered solutions in the energy industry.^[7]^[8] The company's core mission centered on delivering innovative technology solutions for oil and gas exploration and production, with an emphasis on subsea systems, surface wellhead equipment, and processing technologies to enhance efficiency in challenging environments. By 2016, FMC Technologies generated annual revenue of $4.5 billion, reflecting its scale in serving major energy projects globally. This focus evolved from the broader machinery heritage of its parent, FMC Corporation, which originated in agricultural equipment in the late 19th century.^[9]^[10]

Key Operations and Markets

FMC Technologies primarily served the upstream segment of the oil and gas industry, focusing on exploration and production activities both offshore and onshore. Offshore operations, which accounted for approximately 69% of revenue in 2015, centered on deepwater crude oil and natural gas projects requiring advanced subsea technologies. Onshore efforts targeted land-based and shallow-water exploration, including shale developments, through surface wellhead systems and related services.^[7] The company's geographic reach spanned major global regions, with about 73% of 2015 sales generated outside the United States. Key operational areas included North America, where U.S. revenue reached $1.72 billion; Europe, particularly Norway in the North Sea ($492 million); Latin America, led by Brazil ($517 million); and West Africa, encompassing Angola ($485 million) and Nigeria ($622 million). Additional presence extended to Asia-Pacific markets such as Malaysia and emerging basins in the Middle East and North Africa, supported by manufacturing facilities strategically located near principal oil and gas producing areas worldwide.^[11] Key services encompassed the design, manufacturing, installation, and lifecycle support of sophisticated equipment for energy projects. This included subsea production systems, surface wellheads, fluid control equipment, and ongoing asset management, maintenance, optimization, and intervention services to ensure operational efficiency throughout project lifecycles. FMC Technologies positioned itself as a leader in subsea technologies within the oilfield services sector, leveraging strong customer relationships, technological innovation, and integrated solutions to compete with major players like Schlumberger and Halliburton. Its subsea focus enabled comprehensive support for complex offshore developments.^[7]^[11] Pre-merger, the company was subject to various environmental laws and regulations, including those related to greenhouse gas emissions, which could impact operations through compliance costs.^[7]

History

Origins and Early Development

FMC Corporation traces its origins to 1883, when chemist John Bean founded the Bean Spray Pump Company in Los Gatos, California, to produce piston pumps for spraying insecticides against the San Jose scale pest in orchards.^[10] The company initially focused on agricultural equipment but soon expanded into industrial applications, including pumps for various fluids. By the early 20th century, it had diversified into machinery for food processing, such as fruit and vegetable handling systems, and began incorporating chemical production to support its operations.^[10] In 1928, the firm was renamed Food Machinery Corporation, reflecting its growing emphasis on mechanical innovations for the food industry.^[10] During the 1940s, amid World War II demands and postwar reconstruction, Food Machinery Corporation entered the energy sector by licensing petroleum equipment technologies for markets in Mexico and Japan in 1941, marking its initial foray into oil-related machinery.^[10] The company further evolved in the 1950s by developing advanced hydraulic systems, originally derived from its pump expertise, which were adapted for industrial uses including early oilfield applications. In 1957, the acquisition of Oil Center Tool Company bolstered its portfolio with specialized oilfield components like wellhead assemblies and flow control systems.^[5] By the 1960s, renamed FMC Corporation in 1961, it deepened its involvement in oilfield equipment, pioneering subsea projects such as the 1967 installation at Ship Shoal Block 204 in the Gulf of Mexico, which represented one of the earliest commercial subsea completions.^[10]^[5] The 1980s and 1990s saw significant growth in subsea technologies, driven by the North Sea oil boom and global demand for deepwater exploration. FMC invested in deepwater subsea oilfield technology starting in 1980, shifting from surface and shallow-water focus to advanced underwater systems, including electro-hydraulic controls for remote operations.^[5] Key expansions included international facilities in Scotland and Singapore by 1975, and acquisitions like Kongsberg Offshore in 1993, positioning FMC as a leader in subsea engineering amid rising offshore production in the North Sea.^[5] This period laid the groundwork for specialized energy equipment that would define the machinery division. In 2001, FMC Technologies was spun off from FMC Corporation to operate independently, focusing on these energy innovations.^[12]

Spin-off from FMC Corporation and Expansion

FMC Technologies was incorporated in November 2000 as a wholly owned subsidiary of FMC Corporation to consolidate its machinery businesses, including energy systems and food and transportation systems. The company completed its initial public offering on June 14, 2001, listing on the New York Stock Exchange under the ticker symbol FTI and selling approximately 17% of its common stock to the public at $20 per share. The full separation from FMC Corporation occurred on December 31, 2001, through a tax-free distribution of the remaining 83% ownership interest to FMC's shareholders, establishing FMC Technologies as an independent entity focused primarily on energy production and processing technologies. In the early 2000s, FMC Technologies prioritized expansion in its subsea segment, emphasizing subsea umbilicals, risers, and flowlines (SURF) to support growing deepwater exploration. The company pursued strategic acquisitions to bolster its technological capabilities, such as the 2003 purchase of a 55% majority interest in CDS Engineering for $50 million, which enhanced its subsea control and monitoring systems. Additional investments included the development of advanced subsea trees and manifolds, positioning the firm to capture market share in challenging offshore environments, though some early ventures, like non-core assets, were later divested to streamline operations. Between 2008 and 2014, FMC Technologies achieved robust growth, with consolidated revenue more than doubling from $4.55 billion in 2008 to $7.94 billion in 2014, fueled by surging demand for subsea infrastructure in deepwater fields. Key drivers included major projects in the Gulf of Mexico, such as the Perdido development at a world-record depth of 9,356 feet, and in Brazil, where contracts for Petrobras' BC-10 field and pre-salt initiatives underscored the company's expertise in high-pressure, high-temperature environments. By the end of 2014, the order backlog had swelled to $6.62 billion, reflecting sustained investment in these regions despite emerging market volatility. The period's momentum was disrupted by the oil price crash starting in mid-2014, when crude prices plummeted from over $100 per barrel to around $50, curtailing exploration budgets and subsea project approvals. This downturn significantly impacted FMC Technologies' backlog and revenue prospects, prompting aggressive cost-reduction strategies, including the layoff of approximately 2,000 employees—about 10% of its global workforce—in early 2015, primarily in North America. These measures aimed to align operations with reduced demand, preserving liquidity amid industry-wide contraction.

Merger with Technip

On May 19, 2016, FMC Technologies announced an all-stock merger with Technip S.A. valued at approximately $13 billion in equity, aiming to form a new entity named TechnipFMC.^[13] The transaction was structured such that shareholders of each company would own about 50% of the combined entity, with FMC Technologies shareholders receiving one share of TechnipFMC for each of their existing shares and Technip shareholders receiving two shares for each of theirs.^[13] This merger was driven by the strategic rationale of creating a global leader in subsea and offshore oil and gas projects by integrating FMC Technologies' expertise in subsea equipment manufacturing and services with Technip's strengths in engineering, procurement, construction, and installation.^[13] Leadership roles were designated with Doug Pferdehirt, then CEO of FMC Technologies, appointed as CEO of TechnipFMC, and Thierry Pilenko, CEO of Technip, as executive chairman.^[13] The merger received necessary shareholder and regulatory approvals throughout 2016 and was completed on January 16, 2017, with TechnipFMC commencing operations as a unified company the following day.^[14] TechnipFMC was incorporated as a public limited company in England and Wales, with its principal executive offices in London at One St. Paul's Churchyard.^[15] Shares began trading on January 17, 2017, under the ticker symbol "FTI" on the New York Stock Exchange and Euronext Paris.^[14] Immediately following the merger, TechnipFMC reported a combined workforce of 44,000 employees operating across more than 45 countries.^[14] By the end of the first quarter of 2017, the company's order backlog stood at $16.1 billion, reflecting the integrated project pipeline from both legacy businesses and providing a strong foundation for subsea and surface technologies delivery.^[16] This combination enabled TechnipFMC to offer end-to-end solutions, enhancing its competitive position in the energy sector amid challenging market conditions.^[14]

Business Segments

Subsea Systems

FMC Technologies' subsea systems segment encompassed a comprehensive product portfolio designed for deepwater oil and gas production, including subsea trees for well control, manifolds for flow distribution, control systems for remote operation, and tie-back solutions that connected subsea wells to surface facilities or host platforms. These systems were engineered to withstand extreme pressures and depths, supporting applications from single-well tie-backs to large-scale field developments in water depths exceeding 10,000 feet. The portfolio emphasized reliability and modularity, enabling efficient installation and maintenance in harsh offshore environments.^[17] In the 2000s, FMC Technologies advanced subsea processing technologies, notably developing multiphase pumps capable of handling oil, gas, and water mixtures without prior separation, which boosted production rates in low-pressure reservoirs. A key milestone was the 2005 contract with Statoil for a subsea separation boosting and injection system on the Tordis field, marking one of the earliest commercial deployments of such technology to extend field life by up to 25 years. Complementing this, the company pioneered subsea separation systems, including gas-liquid separators and sand removal units, deployed in projects like Petrobras' Marlim field using InLine Hydrocyclone technology to manage solids and enhance flow assurance. These innovations reduced the need for topside processing infrastructure, lowering overall project costs and environmental footprint.^[18]^[17] FMC Technologies played a pivotal role in major deepwater projects, supplying subsea equipment for Shell's Perdido development in the Gulf of Mexico, which began production in 2010 as the world's deepest offshore oil and gas project at over 6,000 feet water depth. The company's contributions included 17 enhanced vertical deepwater subsea trees, five caisson processing modules for multiphase separation and boosting, and associated manifolds and controls, enabling the tie-back of multiple reservoirs to a spar floating production unit. In Brazil's pre-salt fields, FMC secured significant orders, such as a $1.5 billion agreement in 2012 with Petrobras for subsea tree systems deployable in water depths up to 8,200 feet, supporting the Santos Basin's ultra-deep developments and facilitating early production from high-pressure, high-temperature reservoirs. These projects underscored FMC's expertise in integrating subsea hardware for complex, remote operations.^[19]^[17]^[20] By 2016, FMC Technologies was a leading provider of subsea equipment amid growing demand for deepwater solutions. This position reflected the company's strong order backlog, exceeding $3 billion, driven by awards in key regions like the Gulf of Mexico and Brazil.^[21] Technological advancements at FMC focused on standardized subsea architectures to streamline design, manufacturing, and deployment, reducing customization costs by up to 20% through modular components like the Enhanced Vertical Deepwater Tree (EVDT) system, qualified for pressures up to 10,000 psi and used globally in projects such as Perdido. This approach employed globally managed product standards and supply chain integration, allowing faster project execution while maintaining high reliability in ultra-deepwater environments.^[17]

Surface and Wellhead Systems

FMC Technologies' Surface and Wellhead Systems segment provided a range of equipment designed for drilling, completion, and production in onshore and shallow-water environments, including conventional wellhead systems, Unihead systems, and Drill-Thru-Option (DTO) designs. These systems encompassed Christmas trees for flow control, wellheads to support casing strings and seal the annulus, and casing heads to house the initial casing. The segment also offered integrated solutions such as manifolds and flowback equipment tailored for high-pressure operations, with products rated up to 20,000 psi to handle demanding conditions in oil and gas fields.^[7] These systems found primary applications in unconventional shale plays, such as the Permian Basin, and conventional onshore fields, where they supported rapid drilling and completion activities amid the North American shale boom. In shallow-water offshore settings, the equipment facilitated reliable well control and production tie-ins, contributing to efficient resource extraction in regions like the Middle East and Europe. The focus on land-based and near-shore deployments distinguished these offerings from deeper subsea applications, enabling operators to optimize costs in accessible terrains.^[7] In the 2010s, FMC Technologies introduced modular and compact wellhead designs, such as the Unihead series, which featured split-bowl configurations allowing multiple casing schemes without full disassembly, thereby accelerating installation and reducing rig time by up to 20 hours per well. These innovations emphasized standardization to support fast-cycle operations in high-volume shale developments, enhancing overall project economics. Pre-merger, the Surface and Wellhead Systems segment generated approximately 23% of FMC Technologies' total revenue in 2015, amounting to $1.49 billion out of $6.36 billion company-wide, reflecting its significance amid fluctuating market activity.^[7]^[22] Safety was a core emphasis, with systems incorporating blowout preventers (BOPs) integrated into wellhead assemblies to seal the wellbore and prevent uncontrolled releases during drilling and completion. Features like SafeLatch technology enabled secure hanger installation without working under suspended loads, minimizing risks associated with BOP manipulation. Additionally, remote monitoring capabilities through integrated control systems allowed real-time oversight of pressure and flow, supporting proactive intervention in onshore operations. These elements aligned with industry standards for high-pressure environments, prioritizing operator protection and environmental integrity.^[7]^[23]

Surface Facilities and Processing

FMC Technologies' surface facilities and processing technologies encompassed advanced systems for fluid separation, metering, and injection, primarily designed for topside applications in oil and gas production. These systems facilitated the efficient handling of multiphase fluids from wellheads, enabling separation of oil, gas, sand, and water through innovative spiral motion-based processes that optimized flow in onshore and offshore environments.^[24] Multiphase and wetgas metering solutions provided accurate measurement for production testing, reservoir monitoring, and process control, while high-pressure injection systems, including valves, pumps, and fittings, supported well completion, stimulation, and fluid management.^[24] A key innovation in this segment was the development of compact separation units, which significantly reduced equipment weight and footprint for integration into floating production storage and offloading (FPSO) vessels and onshore plants. These inline separators, weighing approximately 40% less than traditional vessels at around 440 metric tons, incorporated features like freewater knockout, inline deliquidizers, degassers, and compact flotation units to handle high-CO2 content streams effectively.^[25] Over 50 such units were deployed by the mid-2010s, accumulating more than 65 years of operational reliability without major failures, demonstrating their suitability for mature fields and space-constrained facilities.^[25] Deployments of these technologies were prominent in the Middle East and North Sea, where surface processing systems supported enhanced oil recovery (EOR) initiatives through reliable injection and separation capabilities. In 2014, FMC reported strong international sales of surface technologies in these regions, driven by demand for efficient fluid management in mature reservoirs.^[24] The subsidiary FMC Separation Systems B.V. in the Netherlands played a central role in advancing these separation technologies for global projects.^[24] The surface facilities and processing segment experienced notable growth during the 2010s, with revenues rising from $1.6 billion in 2012 to $2.1 billion in 2014, fueled by international expansion and strategic acquisitions.^[24] This period saw integration of digital monitoring technologies, including the UCOS® automation software and Master Control Station, enhanced by the 2012 acquisition of Control Systems International (CSI), which bolstered real-time process control and efficiency in topside operations.^[24]^[26] Environmental considerations were embedded in these systems, with efficient separation and metering designs aimed at minimizing waste and optimizing production to reduce operational emissions, though specific flaring reductions were achieved through streamlined fluid processing rather than dedicated anti-flaring hardware.^[24] De-sanding innovations further supported cleaner operations by removing solids early in the process, contributing to lower environmental impact in deployments.^[24]

Leadership and Governance

Executive Team Pre-Merger

Douglas J. Pferdehirt served as Executive Vice President and Chief Operating Officer of FMC Technologies from August 2012 and was appointed President in December 2015, until his appointment as President and Chief Executive Officer effective September 1, 2016.^[27]^[28] During his tenure as COO, Pferdehirt oversaw initiatives to standardize subsea production systems, enhancing execution efficiency and customer collaboration in the energy sector.^[29] As CEO leading into the 2017 merger with Technip, he focused on integrating operations and driving technological advancements in subsea equipment.^[30] John T. Gremp held the position of Chairman, President, and Chief Executive Officer of FMC Technologies from 2011 until August 31, 2016, following his earlier roles as Chief Operating Officer from 2010 and Executive Vice President of Energy Systems from 2007.^[29] Under Gremp's leadership after the 2008 spin-off from FMC Corporation, the company pursued strategic growth through key acquisitions, including Schilling Robotics in 2012 to bolster remote vehicle capabilities and Pure Energy Services in 2012 for $285 million to expand wireline services.^[31]^[32] These moves strengthened FMC Technologies' position in subsea and surface technologies amid expanding global energy demands.^[33] Gremp also spearheaded the merger negotiations with Technip announced in May 2016, positioning the company for combined scale in oilfield services.^[13] Maryann T. Seaman served as Senior Vice President and Chief Financial Officer from 2011 and was promoted to Executive Vice President and CFO in March 2014, after joining the company in 1986 and progressing through roles in accounting, investor relations, and treasury.^[34] As CFO pre-merger, Seaman managed financial strategy during a period of market volatility, overseeing budgeting, capital allocation, and reporting that supported operational expansions.^[35] Pre-merger executive compensation at FMC Technologies emphasized performance alignment, with base salaries set at the 50th percentile of industry peers and comprising about 20-25% of total target pay.^[36] Annual incentives, targeting 75-120% of base salary, were 75% based on corporate metrics such as working capital efficiency, EBIT growth, and EBIT as a percentage of sales, and 25% on individual goals; the 2015 payout averaged 59% of target due to subdued oil prices.^[36] Long-term incentives, about 75% of total pay, included two-thirds performance-based restricted stock units vesting over three years tied to EBITDA growth, return on investment, and total stockholder return relative to the PHLX Oil Service Sector Index, fostering sustained value creation.^[36]

Board Structure and Key Decisions

The board of FMC Technologies, established following its 2001 spin-off from FMC Corporation, initially comprised representatives from the parent company alongside independent directors to ensure continuity in governance during the transition to an independent entity.^[37] By the mid-2010s, the board had evolved to 12 members, with 11 classified as independent under New York Stock Exchange standards, reflecting a structure emphasizing external oversight while retaining sector expertise.^[36] Key board decisions during FMC Technologies' independent period included the endorsement of the 2001 spin-off, which the parent FMC Corporation board had preliminarily approved in 2000 subject to final regulatory and tax clearances, enabling the new entity's focus on energy systems.^[37] In the 2010s, the board supported strategic shifts toward deepwater subsea technologies, approving investments and alliances such as the 2010 enterprise framework agreement with Shell for international deepwater projects, which expanded FMC's market position amid growing offshore exploration demands.^[17] The board also unanimously approved the 2016 merger with Technip, declaring the business combination agreement advisable and pursuing it as a means to create a diversified oilfield services leader, culminating in shareholder ratification later that year.^[38] FMC Technologies' board operated through specialized committees that played critical roles in governance and risk management, particularly during the 2014-2016 oil price downturn. The Audit Committee, chaired by C. Maury Devine and comprising six other independent directors, held eight meetings in 2015 to oversee financial reporting, internal controls, and compliance amid volatile commodity prices.^[36] The Compensation Committee, led by Thomas M. Hamilton with five members, conducted five meetings to align executive incentives with long-term performance, adjusting metrics like peer group comparisons to navigate economic pressures.^[36] The Nominating and Governance Committee, under Richard A. Pattarozzi and including four others, met twice to evaluate director nominations and corporate governance practices, ensuring resilience in board composition during industry challenges.^[36] Diversity on the board increased over time, with female representation rising to three directors (25%) by 2016, including C. Maury Devine, Claire S. Farley, and Kay G. Priestly, who brought expertise in finance, energy operations, and legal matters.^[36] The board's average age stood at 65 in 2016, with members collectively offering decades of experience in the energy sector, including senior roles at major oil and gas firms, which informed oversight of complex strategic and operational risks.^[36]

Legacy and Impact

Innovations and Industry Contributions

FMC Technologies maintained a robust research and development (R&D) program centered on enhancing subsea operations, culminating in approximately 1,530 issued patents and pending patent applications worldwide by the end of 2015. These intellectual properties primarily addressed improvements in subsea reliability, such as advanced sealing mechanisms and fault-tolerant designs, and automation technologies, including electric actuators and control systems that minimized hydraulic dependencies.^[7] This portfolio underscored the company's commitment to mitigating risks in harsh offshore environments, with ongoing R&D expenditures supporting innovations in deepwater processing and production systems.^[39] A key contribution was the pioneering of all-electric subsea systems, which replaced traditional hydraulic controls with electrically powered actuators to improve efficiency and reduce maintenance needs in ultra-deepwater applications. By the early 2010s, FMC had developed and tested prototypes, including low-voltage all-electric subsea trees, accumulating over 8 million operating hours on electric actuators by the mid-decade. These systems were deployed in major projects, enabling more reliable production in fields exceeding 2,000 meters of water depth and setting benchmarks for reduced intervention costs.^[40] To address escalating project costs in the subsea sector, FMC Technologies championed standardization initiatives that streamlined component designs and manufacturing processes, lowering development expenses through repeatable engineering and supply chain efficiencies. Company leadership, including then-CEO John Gremp, advocated for industry-wide adoption of standardized interfaces to accelerate deployment and cut customization overheads, influencing operator strategies in regions like the Gulf of Mexico and Brazil.^[41] These efforts included collaborative alliances with suppliers to optimize subsea hardware, fostering broader cost reductions without compromising performance.^[42] FMC Technologies garnered recognition for its advancements in deepwater technologies, earning multiple Offshore Technology Conference (OTC) Spotlight on New Technology Awards for innovations like subsea separation systems that enhanced safety and operational efficiency in heavy oil environments. For instance, in 2012, the company received awards for its deepwater oil-water separation technology, the first of its kind deployed subsea, which improved flow assurance and reduced environmental risks. These accolades highlighted FMC's role in elevating industry standards for reliable deepwater interventions.^[43] In parallel, FMC Technologies invested in workforce development through targeted training programs and strategic partnerships with major operators such as Shell and Petrobras, as well as academic institutions, to build expertise in subsea engineering and operations. A notable collaboration was the 2010 memorandum of understanding with Petrobras to co-develop subsea technologies, which incorporated joint training on advanced systems for Brazilian personnel. Similarly, long-term alliances with Shell involved knowledge transfer initiatives, while a 10-year partnership with Penn State Behrend established an advanced design center providing hands-on training and internships for students, employing up to 12 interns at a time with over 30 interns participating over the partnership period, cultivating skilled talent for subsea reliability and automation roles.^[44]^[45]

Post-Merger Influence on TechnipFMC

Following the 2017 merger, FMC Technologies' subsea division formed the foundational core of TechnipFMC's Subsea segment, integrating with Technip's complementary capabilities to create a fully integrated subsea provider that emphasized equipment manufacturing and system integration. This structure enabled enhanced operational efficiency and drove significant growth in the Subsea segment during 2017-2019, with full-year subsea orders reaching $5.1 billion in 2017—a 27% increase over the prior year—and quarterly revenue growing 20.6% year-over-year by the fourth quarter of 2019 to $1.4868 billion, fueled by strong project execution and services demand.^[46]^[47]^[48] In 2021, TechnipFMC executed a strategic spin-off of its Onshore/Offshore segment, distributing 50.1% of the shares in the newly formed Technip Energies—a focused engineering and technology services company—to existing shareholders, while retaining full ownership of the remaining 49.9%. This separation streamlined TechnipFMC's operations, preserving its emphasis on FMC's core strengths in subsea and surface equipment manufacturing, systems integration, and lifecycle services, and allowing the company to concentrate on energy transition technologies within those domains. The transaction, completed on February 17, 2021, positioned TechnipFMC as a more agile entity dedicated to subsea production and surface technologies.^[49]^[50] As of 2025, TechnipFMC operates as a standalone public company with a trailing twelve-month revenue exceeding $9.8 billion as of September 30, 2025, reflecting robust performance in its Subsea and Surface Technologies segments amid rising global demand for energy infrastructure. The company maintains its operational headquarters in Houston, Texas, with additional key facilities in Zug, Switzerland, supporting a workforce of approximately 21,000 across 38 countries and focusing on integrated project delivery for oil, gas, and emerging low-carbon applications.^[51]^[4] The enduring legacy of FMC Technologies persists through the ongoing deployment of its proprietary subsea technologies in major global fields, such as all-electric systems and integrated production solutions that continue to underpin TechnipFMC's project executions worldwide. These technologies have influenced industry standards for subsea reliability and efficiency, enabling cost reductions and extended field life in offshore developments from the Gulf of Mexico to the North Sea and beyond, as evidenced by their application in high-profile contracts like the Northern Endurance Partnership carbon storage project and 2025 awards including the iEPCI™ contract for Shell's Gato do Mato development offshore Brazil and flexible pipe contracts with Petrobras.^[4]^[52]^[53]^[54]

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FMC Technologies to Buy Pure Energy for $285 Million - Bloomberg
Aug 20, 2012 · FMC Technologies Inc., the largest U.S. provider of subsea equipment to the oil and natural-gas industry, agreed to buy Pure Energy Services ...
[29]
John Gremp, chairman and CEO of FMC Technologies Inc.
Dec 21, 2012 · Though John Gremp has spent 38 years working for FMC Technologies Inc., he says the events of the past year have been the best he's ...
[30]
FMC Technologies Appoints Maryann T. Seaman Executive Vice ...
Mar 10, 2014 · Seaman, who is the company's Chief Financial Officer, has been with FMC Technologies for 28 years and has held a variety of financial, ...
[31]
FMC Technologies Appoints Maryann T. Seaman Executive Vice ...
Seaman, who is the company's Chief Financial Officer, has been with FMC Technologies for 28 years and has held a variety of financial, administrative and ...
[32]
[PDF] united states securities and exchange commission - TechnipFMC
Mar 25, 2016 · The Compensation Committee establishes and oversees the design and functioning of FMC Technologies' executive compensation program. The.
[33]
[PDF] Covers - Annual Reports
In April 2000, FMC's phosphorus chemicals business was joined with our partner Solutia Inc. to create the 50-50 phosphorus-producing joint venture, Astaris LLC ...
[34]
S-4/A - SEC.gov
On May 19, 2016, FMC Technologies, Inc., a Delaware corporation (“FMCTI ... FMC Technologies, Inc., 13460 Lockwood Rd., Houston, Texas 77044. ITEMS OF ...
[35]
[PDF] FMC TECHNOLOGIES, INC. - TechnipFMC
Feb 28, 2007 · On December 31, 2001, FMC Corporation distributed its remaining 83% ownership of our stock to FMC Corporation's stockholders in the form of a ...
[36]
[PDF] Subsea Electric Systems Enter a New Era
• FMC Technologies chosen for largest contract ever for subsea electrical ... • More than 8 million operating hours of FMC electric actuators. –. The ...
[37]
Technology Standardization Remains Elusive - JPT/SPE
Jun 30, 2013 · “We know if we do something over and over that you get good at something and costs go down,” said John Gremp, chairman and CEO of FMC ...
[38]
FMC unites competitors to cut costs for subsea - TradeWinds
While subsea projects have been re-evaluated to reduce costs by lowering project specifications, charterers have also been looking to employ more marine assets ...
[39]
FMC Technologies Earns Two Spotlight on New Technology Awards
It is the industry's first use of oil and water separation technologies in deep water, and it is the first subsea system to separate heavy oil and water.Missing: SPE | Show results with:SPE
[40]
Brazil: FMC Technologies and Petrobras Sign MoU for Subsea ...
Dec 1, 2010 · FMC Technologies, Inc. announced today that it has signed a memorandum of understanding with Petrobras to develop future subsea technology ...
[41]
Penn State Behrend and FMC Technologies Open World-Class ...
Jan 23, 2013 · The center builds on a 10-year partnership between FMC Technologies and Penn State Behrend. The college has provided 30 interns to the company's ...
[42]
TechnipFMC Announces Fourth Quarter 2017 Results
TechnipFMC Announces Fourth Quarter 2017 Results · $392.9 million . Backlog was · $409.8 million . Given the short-cycle nature of the business, most orders are ...
[43]
technip energies nv - SEC.gov
In March 2015, FMC Technologies, Inc., a U.S. Delaware corporation (together with its consolidated subsidiaries, “FMC Technologies”), and Technip S.A., a ...
[44]
TechnipFMC Announces Fourth Quarter 2019 Results
Subsea reported fourth quarter revenue of $1,486.8 million, up 20.6 percent from the prior year. The Company experienced double-digit growth in both project and ...Missing: 2017 | Show results with:2017
[45]
TechnipFMC Completes Separation of Two Industry-Leading ...
TechnipFMC today announced the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and ...Missing: exact | Show results with:exact
[46]
[PDF] January 7, 2021 - Investors - Technip Energies
Jan 7, 2021 · Separation to occur by means of a spin-off of 50.1% of the outstanding shares of Technip Energies common stock pro rata to TechnipFMC ...
[47]
TechnipFMC 2025 Company Profile: Stock Performance & Earnings
TechnipFMC originated with the 2017 merger of Technip and FMC Technologies. Contact Information. Website. www.technipfmc.com. Formerly Known As. Technip, FMC ...<|control11|><|separator|>
[48]
TechnipFMC to deploy all-electric subsea technology for NEP CCS ...
Dec 12, 2024 · TechnipFMC will leverage its industry-leading subsea expertise and proprietary technologies to deliver the first all-electric iEPCI™ for ...<|separator|>