FMC, Technip Say Forsys Subsea JV Receives All Regulatory Approvals

(RTTNews) - FMC Technologies, Inc. (FMI) and Technip SA (TNHPF.PK, TKPPY.PK) Tuesday said that Forsys Subsea, a 50/50 joint venture, has received all regulatory approvals. The parties closed the transaction making Forsys Subsea operational on June 1.

By combining the industry-leading technologies of the parent companies, Forsys Subsea will reduce the interfaces of the subsea umbilical, riser and flowline systems and subsea production and processing systems.

It will also simplify the seabed layout, thereby reducing complexity, accelerating time to first oil, and enabling higher sustainable field production.

According to the company, this combination will drive a new, step-change approach to how equipment designs and installation methods converge in a new generation of subsea architecture.