International oil field services firms FMC Technologies Inc. and Technip SA have agreed to form Forsys Subsea, a 50-50 joint venture marking the latest collaboration by oil and gas service and supply companies to cope with the deflated global oil price environment.
The alliance between the companies respectively based in Houston and Paris is designed to combine their global offshore expertise and cut costs.
The new operation will deliver and install a subsea infrastructure by eliminating interfaces and integrating subsea production and processing systems with subsea umbilical, riser, and flowline systems, the companies said. The venture also will seek to simplify seabed layout to reduce complexity, accelerate time to production start-up, and maximize sustainable peak production.
Comprising the companies’ technical capabilities, products, and systems, Forsys Subsea will focus on:
• Early involvement in the concept selection phase of front-end engineering and design, when ability to influence cost is greatest.
• Integrated life-of-field well surveillance, monitoring, data interpretation, and advisory services.
• Joint research and development to drive technological innovations.
Forsys Subsea will consist of 320 employees and be headquartered in London, with regional hubs in Oslo, Houston, Paris, Rio de Janeiro, and Singapore.
Its leadership team will include FMC’s Rasmus Sunde as chief executive officer, Technip’s Alain Marion as chief technology officer, FMC’s Arild Selvig leading front-end engineering, and Technip’s Gerald Bouhourd leading life of field.