TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies (FTI) and paris-based Technip.
Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies, systems and services “from concept to project delivery and beyond” with headquarters in Houston, London and Paris.
A key focus for TechnipFMC will be project economics across subsea, onshore/offshore and surface, the company said in a press release.
"With our merger complete, TechnipFMC is uniquely positioned to unlock possibilities for our clients to transform their project economics,” said Doug Pferdehirt, Chief Executive Officer of TechnipFMC. “We will do this by inspiring a culture of challenging conventions and finding new and better ways of doing things.”
Thierry Pilenko, Executive Chairman of TechnipFMC, said, “As one company, we can make oil and gas projects more viable, driving value for our clients and shareholders. . . TechnipFMC will advance the creation of cost-efficient solutions for years to come.”
TechnipFMC has begun trading on the New York Stock Exchange and on the Euronext Paris Stock Exchange under the symbol FTI. Under the terms of the merger agreement, FMC Technologies shareholders received one share of the combined company for each existing share of FMC Technologies, and Technip shareholders received two shares of the combined company for each existing share of Technip.