Industry majors form Forsys Subsea JV

FMC Technologies and Technip signed an agreement to form an exclusive alliance and to launch Forsys Subsea, a 50/50 joint venture that will unite the skills and capabilities of the two companies.

This alliance will redefine the way subsea fields are designed, delivered and maintained, the companies claim in a statement.

According to a joint statement, Forsys Subsea will have the technical capabilities, products and systems to significantly reduce the cost of subsea field development and provide the technology to maximize well performance over the life of the field.

By combining the technologies of the parent companies, Forsys Subsea intends to reduce the interfaces of the subsea umbilical, riser and flowline systems (SURF) and subsea production and processing systems (SPS). It also plans to simplify the seabed layout, reducing complexity, accelerating time to first oil, and maximizing sustainable peak production. T

In addition, the alliance will be uniquely positioned to deliver and install a seamless subsea infrastructure from seabed to topside by eliminating interfaces and by integrating SPS with SURF, attaining the highest reliability and uptime and the lowest total ownership cost available in the industry.

After closing and upon launch of the joint venture, 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 of Forsys Subsea will include Rasmus Sunde (FMC Technologies) as CEO, Alain Marion (Technip) as Chief Technology Officer (CTO), Arild Selvig (FMC Technologies) leading front-end engineering and Gérald Bouhourd (Technip) leading life of field.

FMC Technologies and Technip will have 50/50 ownership of Forsys Subsea.

Image: Technip