Technip S.A. was a company that carried out

project management Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. Th ...

engineering Engineering is the use of scientific method, scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad rang ...

and

construction Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...

for the

energy industry The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy indu ...

; in 2017 it completed a merger with

FMC Technologies FMC Technologies, Inc. was a North American company that produced equipment for exploration and production of hydrocarbons. FMC Technologies was incorporated in 2000 when FMC Corporation divested its machinery businesses. It exists today as a par ...

to form

TechnipFMC TechnipFMC plc ( ) is a French-American, UK-domiciled global oil and gas company that provides complete project life cycle services for the energy industry. It was ranked 23rd among world's Top 225 International Design Firms in the year 2017 by E ...

. Its headquarters were in the 16th arrondissement of

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...

. It has about 38,000 employees and operates in 48 countries.

Overview

Technip is primarily in the energy business and is active in three business segments, namely

Subsea Subsea technology involves fully submerged ocean equipment, operations, or applications, especially when some distance offshore, in deep ocean waters, or on the seabed. The term ''subsea'' is frequently used in connection with oceanography, marin ...

, Offshore & Onshore. It has around 38,000 employees and operates in 48 countries. It owns a fleet of 21 vessels in operation with 6 more under construction. As of the end of 2014, while the operating income of Technip Group from recurring activities stood at ~ Euros 825 million, the total revenues stood at more than Euros 10.7 billion.Technip full Year 2014 results
sur "".

History

Technip was established in 1958 by IFP,

Institut français du pétrole The IFP Energies nouvelles (IFPEN) also known as French Institute of Petroleum (in French: ''Institut Français du Pétrole, IFP'') is a public research organisation in France founded in 1944 as Institute of Oil, Fuels and Lubricants (''Institut d ...

, as Compagnie française d'études et de construction Technip. In the 1960s, the company completed its first international projects in Africa and Asia. In the 1970s Technip became an international group with the acquisition of an office in Rome and the creation of Technip Geoproduction, a subsidiary specialized in hydrocarbon field equipment. During this period, Coflexip – a firm specialized in the design, manufacture and supply of flexible subsea flowlines – was created by the IFP (French Petroleum Institute) and opened a flexible flowline manufacturing plant in Le Trait, France, as well as offices in

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...

Aberdeen Aberdeen (; sco, Aiberdeen ; gd, Obar Dheathain ; la, Aberdonia) is a city in North East Scotland, and is the third most populous city in the country. Aberdeen is one of Scotland's 32 local government council areas (as Aberdeen City), and ...

and

Rio de Janeiro Rio de Janeiro ( , , ; literally 'River of January'), or simply Rio, is the capital of the state of the same name, Brazil's third-most populous state, and the second-most populous city in Brazil, after São Paulo. Listed by the GaWC as a b ...

. In the 1980s Technip opened operating centers in Kuala Lumpur and Abu Dhabi. Coflexip opened a second flowline manufacturing plant in Brazil and branched out into the manufacture of umbilicals with the establishment of the Duco plant in Newcastle, UK. Coflexip acquired Stena Offshore while Technip acquired several companies with strong technological expertise: ''Speichim'', ''Krebs'' and ''KTI''. Already established in the United States, KTI enabled Technip to set up in

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

. Coflexip established a presence in Australia and acquired the Norwegian company Stena Offshore. In the 2000s, Technip merged with Coflexip, which had just acquired Aker Maritime's Deepwater Division. The unified group is now one of the top five companies worldwide in engineering, technology and services for the energy industry. Many major contracts are signed, notably in the Middle East in the

liquefied natural gas Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volu ...

(LNG), ethylene and refining sectors. In 2010 three major assets came into operation: the Technip fleet expanded to 17 vessels with the addition of the Apache II, one of the most advanced pipelay vessels in the industry, and the Skandi Vitoria, a Brazilian-flagged vessel dedicated to the pre-salt market. Asiaflex Products, the Group’s third flexible pipe production plant, located in Tanjung Langsat, Malaysia was inaugurated. In 2011, Technip acquired Global Industries, substantially expanding its addressable market in subsea. In 2012 Technip acquired Stone & Webster Process Technologies and associated oil and gas engineering capabilities from

The Shaw Group The Shaw Group is a pipe and module fabrication firm specializing in induction bending. Headquartered in Houston, Texas, Shaw employs approximately 700 people across its offices and operations in North America and the Middle East. History Sha ...

Merger with FMC

In 2017, FMC Technologies Inc. and Technip agreed to merge, forming a significant new player in an energy industry racked by a nearly two-year slump in crude prices. The all-share deal would result in a new company named

with a market value of about $13 billion. TechnipFMC has three

headquarters Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...

and

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

under new Houston-based CEO Doug Pferdehirt, who worked as FMC’s

chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the "C-suite". The COO is usually the second-in-command at the firm, especially if t ...

. Former Technip chairman and CEO Thierry Pilenko is the new executive chairman. In August 2019, Doug Pferdehirt announces that TechnipFMC will be split into two independent engineering companies. The separation is expected to be completed by the end of the first semester 2020. The former Technip entity, without the subsea business, was renamed

Technip Energies Technip Energies N.V. is a French engineering and technology company for the energy industry and chemicals sector. It is a spin-off of TechnipFMC. History Technip Energies was established in 2021 as a spinoff of multinational energy compan ...

Listings

In the 1990s Technip was listed on the

Paris Stock Exchange Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined market ...

and Coflexip on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

. Technip was included in the CAC40 French benchmark index in September 2009.

Controversies

In June 2010 Technip S.A. agreed to pay a $338 million criminal penalty to resolve charges related to the Foreign Corrupt Practices Act (FCPA) for its participation in a decade-long scheme to bribe Nigerian government officials to obtain engineering, procurement and construction (EPC) contracts. In 2011, the US Securities & Exchange Commission (SEC) filed a lawsuit in the federal Southern District of New York alleging insider trading.

Organization

Technip was certified as one of the first five companies in the world as a Global Top-Employer 2015 which recognizes first-class employee offerings globally and equally. This independent certification delivered by the Top Employers Institute demonstrates the quality and consistency of the company’s human resources policies and practices all around the globe. Technip has also been certified as a Top-Employer in 24 countries (Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Italy, Malaysia, Mexico, Netherlands, Norway, Portugal, Qatar, Russia, Singapore, Spain, Thailand, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam) as well as in three regions (Asia-Pacific, Europe and Latin America). In July 2015, it was announced that the company would lay off 6,000 employees due to the industry downturn.

Financial and stock market information

The Technip share is listed on Euronext Paris and on the American over-the-counter market. * ISIN: FR0000131708 * Nominal value: euro The Technip share is included in the

Dow Jones Sustainability Index The Dow Jones Sustainability Indices (DJSI) launched in 1999, are a family of indices evaluating the sustainability performance of thousands of companies trading publicly, operated under a strategic partnership between S&P Dow Jones Indices and Ro ...

and the Low Carbon 100 index and the ASPI Eurozone. (a) Does not include the exercise of options arising from the current share purchase or share subscription option plans.

References

External links

* {{Authority control 2017 mergers and acquisitions Business services companies established in 1958 Companies formerly listed on the Paris Bourse Companies formerly listed on the New York Stock Exchange Construction and civil engineering companies of France Construction and civil engineering companies established in 1958 Construction and civil engineering companies disestablished in 2017 Engineering companies of France Energy engineering and contractor companies Design companies established in 1958 Energy companies established in 1958 Energy companies disestablished in 2017 French companies established in 1958 French companies disestablished in 2017 Non-renewable resource companies established in 1958