Technip was awarded by Public Joint Stock Company (PJSC) Kazanorgsintez(1) a contract to provide engineering and procurement of three proprietary SMK™ grassroots furnaces at Kazan, Republic of Tatarstan, Russia. The furnaces will be part of the ethylene plant at the site.
French oil services giant Technip’s UK business has warned 2017 will be “the most difficult year” despite expecting North Sea projects to come back on the market.
Technip said its plans to cut spending due to the fall in oil price were ahead of schedule as it reported better-than-expected second quarter earnings.
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.
GE Oil & Gas and Technip have signed a Memorandum of Understanding for a joint project to explore areas to co-develop digital solutions for the LNG industry.
Solstad Offshore has signed a frame agreement with Technip Norge and Technip UK for the supply of vessels for trenching, construction and subsea services.
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.