Technip and FMC merging to become the second largest oilfield service company

May 19, 2016

Rystad Energy's latest analysis shows that the recently announced combination of Technip and FMC will create the second largest company in the oilfield service industry, after the merger between Halliburton and Baker Hughes failed. Technip and FMC published today that the two companies will merge after a successful alliance through Forsys. This is the second time an alliance has led to M&A after Schlumberger acquired Cameron. The merged company, TechnipFMC, will have an expected revenue of approximately USD 17 billion in 2016. Within the subsea space, it will control roughly 27% of the market and supply complete subsea production systems, SURF and subsea life-of-field services.

 

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Article contacts

Audun Martinsen, VP Oilfield Service Research
Phone: +47 24 00 42 00
audun.martinsen@rystadenergy.com

Julia Weiss, VP Marketing
Phone: +47 48 29 87 61
julia.weiss@rystadenergy.com

 

About Rystad Energy

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro), Africa as well as South East Asia.