Technip, FMC Technologies and Aker Solutions have won deals to provide a range of services on Statoil’s Trestakk field in the Norwegian Sea.
Technip has revealed up to 130 jobs are at risk from its North Sea operations as it continues to adapt to the challenging subsea market.
French oil services company Technip said there was no reason for Britain's exit from the European Union to impact its merger with FMC Technologies - including plans for London to be the legal headquarters of the new group.
Technip and FMC Technologies have executed a Business Combination Agreement (BCA) regarding their proposed merger announced on May 19, 2016 with the firms hailing it as a major milestone in their merger process.
Analysts are confident Technip and FMC Technologies will do what larger oil service and equipment providers Halliburton and Baker Hughes ouldn’t - close a merger during the market downturn.
FMC Technologies has seen a drop in second quarter revenue which fell 15% from the year before. The company said the figure decreased from $1.99billion in 2014 to $1.70billion. This was mainly due to decline in North American land market and its impact on the subsea engineering specialist’s surface technologies revenue.