Merged Technip, FMC to become second-largest oilfield service company
HOUSTON -- 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.
Image: Rystad Energy.
Technip and FMC said Thursday 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 $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.
