TechnipFMC resolves French Parquet National Financier investigation

(WO)— Technip UK Limited, a subsidiary of TechnipFMC plc, and Technip Energies France SAS, a subsidiary of Technip Energies NV, have agreed to resolve their outstanding matters with the French Parquet National Financier (PNF).

The resolution encompasses historical conduct arising from nearly fifteen-year-old former Technip S.A. group projects. This settlement took the form of a convention judiciaire d'interet public, or CJIP, which does not involve any admission of liability or guilt.

Under the terms of the CJIP, Technip UK and Technip Energies France will pay a fine of €154.8 million ($169.79 million) and €54.1 million ($59.34 million), respectively, for a total of €208.9 million ($229.13 million). TechnipFMC is responsible for €179.45 million to be paid in installments through July 2024, and Technip Energies is responsible for the remaining €29.45 million under their separation agreement.

TechnipFMC fully cooperated with the PNF and will not be required to retain a monitor.