Technip and FMC Technologies announced Tuesday that their 50/50 joint venture, Forsys Subsea, has received all regulatory approvals and is now operational.
The new JV aims to redefine the way subsea fields are designed, delivered and maintained. Forsys Subsea plans to reduce the interfaces of the subsea umbilical, riser and flowline systems and subsea production and processing systems. It also wants to simplify seabed layout, which will help to accelerate time to first oil and enable higher sustainable field production, according to Forsys.
Forsys Subsea CEO Rasmus Sunde commented in a company statement:
"With Forsys Subsea we are launching an exciting and compelling business proposition by providing front-end engineering and life-of-field decision support to our customers. Based on this, we will enable customers to take advantage of lower costs, reduced execution time and execution risks, and higher uptime of the installed base by leveraging the combined technologies and execution capabilities of the parent companies."
Forsys is headquartered in London, with regional hubs in Houston, Oslo, Paris, Rio de Janeiro and Singapore.
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