TechnipFMC

What TechnipFMC does

TechnipFMC plc (NYSE: FTI; EPA: FTI) is a UK-domiciled public limited company, formed through the January 2017 merger of France's Technip (founded 1958) and US-based FMC Technologies. The company operates as a fully integrated technology provider to the traditional and new energy industries, organized across three reporting segments: Subsea, Surface, and New Energy. Subsea is the dominant segment, accounting for approximately 90% of total revenue (Q1 2026 Subsea revenue of $2.2B vs. total Q1 revenue of $2.5B), while Surface Technologies delivered Q1 2026 revenue of $284M.

TechnipFMC's core offering spans the full life of an offshore field. In the Subsea segment, the company manufactures and delivers subsea production systems (trees, manifolds, controls, wellhead equipment), subsea processing systems, umbilicals, risers, and flexible flowlines, and operates a fleet of vessels plus ROV-based intervention services. The proprietary iEPCI integrated model combines engineering, procurement, construction, and installation under a single execution framework, and Subsea 2.0 is the next-generation standardized subsea architecture designed to reduce cost and delivery time on deepwater projects. Digital tools include Subsea Studio (FEED planning/simulation) and eSolutions (operations analytics). The Surface segment serves onshore and shallow water markets through DrillNow (unconventional drilling), iComplete (completions), iProduction (well-to-export systems), and pressure control equipment. The New Energy segment pursues greenhouse gas removal, offshore floating renewables, and green hydrogen from offshore wind.

The business model is project-based and enterprise-direct. Revenue is recognized primarily through multi-year iEPCI contracts valued between $75M and over $1B, awarded via competitive bidding or direct negotiation with super-major international oil companies, national oil companies (Petrobras, Eni), and independents. Recent contract awards include Vår Energi ($500M-$1B Ofelia/Gjøa Nord), bp ($600M-$800M Tiber), and Azule Energy ($75M-$250M Greater PAJ). Customers include bp, Vår Energi, Azule Energy, Petrobras, Chevron, Eni, Ithaca Energy, and Aker BP. Total backlog reached $16.57B at year-end 2025, and the Subsea opportunity pipeline stands at approximately $30B. Life of Field services (iLOF, IMR, subsea drilling) provide recurring revenue from an installed asset base. Geographic exposure spans the North Sea, Gulf of America, Brazil pre-salt, West Africa, Mediterranean, and emerging basins including Namibia.

Name

TechnipFMC

Legal name

TechnipFMC plc

Website

https://technipfmc.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

TechnipFMC is an integrated subsea and surface technology provider for offshore oil and gas, delivering subsea production systems, flexible pipes, integrated iEPCI project execution, and life of field services to super-majors, NOCs, and large independents globally.

Ownership category

akta.pro rank

Product category

Offshore Energy Services & Subsea Production Systems

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)

SIC

Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI)

akta.pro secondary industry

Subsea Construction & IMR Vessel Newbuilds (CSV, DSV, ROV Support) (IMAJACAD)

Keywords

• Subsea production systems
• Offshore oil and gas services
• Integrated EPCI projects
• Surface drilling equipment
• Subsea robotics

Headquarters

HQ city

Newcastle Upon Tyne

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. Subsea Equipment and Services: Provides subsea production systems, including trees, manifolds, controls, and wellhead equipment for offshore oil and gas developments. Revenue recognized as projects progress through manufacturing and installation phases. Subsea segment generated $2.2B in Q1 2026 revenue, representing approximately 90% of total company revenue.
2. iEPCI Projects: Integrated Engineering, Procurement, Construction, and Installation contracts for subsea field developments. These large-scale project awards typically range from $75M to over $1B and span multiple years. Revenue recognized over project duration with majority of contract value typically booked in the quarter awards are announced.
3. Surface Technologies: Provides surface technologies for onshore and shallow water markets including wellheads, trees, pressure control, and production equipment. Q1 2026 revenue of $284M, down 12% sequentially due to scheduled project activity in Middle East.
4. Life of Field Services: Ongoing services including iLOF (Intelligence for Life of Field), subsea drilling services, asset management, and IMR (Inspection, Maintenance, and Repair) operations. Provides recurring service revenue from established asset base.
5. New Energy Ventures: Emerging business focused on greenhouse gas removal, offshore floating renewables, and green hydrogen production from offshore wind. Strategic partnerships with EDP for concept studies and Sulzer for CO2 transport technology.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

TechnipFMC is a leading technology provider to the traditional and new energy industries, organized into three segments: Subsea, Surface, and New Energy. The Subsea segment spans the full life of the field, from planning (Subsea Studio™) through manufacture and delivery of subsea equipment and controls (Subsea 2.0®, subsea trees, manifolds, controls, wellhead systems) to life of field services (iLOF Services, IMR, ROV systems). The Surface segment serves onshore and shallow water markets from well to export pipeline through integrated systems including DrillNow™, iComplete®, and iProduction™. The New Energy segment targets greenhouse gas removal, offshore floating renewables, and dynamic inter array cable systems. Delivery is anchored by the proprietary iEPCI® integrated Engineering, Procurement, Construction, and Installation execution model.

Product overview

TechnipFMC is a leading technology provider to the traditional and new energy industries, organized into three core segments: Subsea, Surface, and New Energy. The Subsea segment spans the full life of the field, from planning (Subsea Studio™), through the manufacture and delivery of subsea equipment and controls (Subsea 2.0®, subsea trees, manifolds, controls, wellhead systems), to life of field services (iLOF Services, IMR, Pivotal Riserless Intervention, Robotics/ROV systems). The Surface segment serves the onshore and shallow water markets from well to export pipeline through integrated systems including DrillNow™, iComplete®, iProduction™, and pressure control/production technologies. The New Energy segment focuses on energy transition opportunities including greenhouse gas removal, offshore floating renewables, and dynamic inter array cable systems. The company also operates a fleet of vessels and provides technology and innovation services. Execution is delivered through the proprietary iEPCI® integrated model that combines engineering, procurement, construction, and installation.

Differentiator

Problem solved

Functional benefit

Brands

• Subsea 2.0: Next-generation subsea architecture and equipment designed to reduce costs and improve efficiency in offshore developments.
• iEPCI
• Subsea Studio
• DrillNow
• iComplete
• iProduction
• eSolutions

Products and services

• iEPCI® Subsea Integrated Engineering, Procurement, Construction, and Installation execution model that streamlines subsea project delivery by combining subsea production systems with SURF capabilities under a single framework. Used by offshore oil and gas operators for large-scale subsea field developments.
• Subsea 2.0®

Quantifiable outcome

• Q1 2026 revenue of $2.5 billion with 18.2% adjusted EBITDA margin
• +5 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Vår EnergicoreStrategic or Co-development Partner · 25 June 2026Five-year collaboration agreement leading to large iEPCI contract award for Ofelia and Gjøa Nord offshore projects in the North Sea. Contract valued between $500 million and $1 billion with majority revenue recognition in Q2 2026. Projects aim to deliver first oil within two years using TechnipFMC's integrated execution model.
• Azule EnergycoreStrategic or Co-development Partner · 23 June 2026Contract award for Greater PAJ ultra-deepwater offshore oil development in Angola's Blocks 31 and 21. TechnipFMC awarded separate contract worth $75-250 million to design and manufacture flexible flowlines and risers for water depths reaching 2,000 meters. First oil expected first half 2029. Azule Energy is a joint venture equally owned by Eni and BP.
• EDP (Energias de Portugal)minorStrategic or Co-development PartnerJoint concept study development for green hydrogen production from offshore wind power. Combines TechnipFMC's offshore execution capabilities with EDP's renewable energy expertise to explore energy transition opportunities.
• HalliburtonminorStrategic or Co-development PartnerJoint subsea fiber optic service offering combining Halliburton's fiber optic technology with TechnipFMC's subsea installation and service capabilities for enhanced reservoir monitoring in offshore developments.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Subsea7: Subsea7 is a direct competitor offering integrated SURF (subsea umbilicals, risers, flowlines) and EPCI services for offshore oil & gas field developments, mirroring TechnipFMC's iEPCI scope. Operates a similar vessel fleet and competes head-to-head on the same deepwater tenders globally.
• Saipem: Saipem is a direct peer providing offshore EPCI services, subsea pipelines, and offshore field development capabilities via its own vessels and engineering centers. It directly contests TechnipFMC on integrated subsea awards in West Africa, Mediterranean, and the North Sea.
• Aker Solutions: Aker Solutions designs and delivers subsea production systems and SURF services (including through its Aker BP-aligned Aker Subsea JV heritage), directly overlapping TechnipFMC's SPS + SURF portfolios and competing on Norwegian North Sea tenders such as Symra.
• McDermott International: McDermott delivers integrated EPCI solutions for offshore oil & gas field developments with comparable subsea pipelaying and SURF capabilities, contesting the same integrated subsea awards as TechnipFMC in Brazil, the Gulf of Mexico, and Asia-Pacific.
• Oceaneering International: Oceaneering provides ROV systems, manipulator robotics, and subsea intervention services that directly overlap with TechnipFMC's Robotics/ROV and Life of Field service lines (including Pivotal Riserless Intervention). It is a direct competitor in IMR and survey work.

Broad incumbents

• Baker Hughes: Baker Hughes is a broad oilfield services incumbent whose portfolio overlaps with TechnipFMC's subsea equipment and field services. While not a pure-play integrated subsea EPCI provider, it competes across wellheads, completions, and pressure control segments of the value chain.
• SLB (Schlumberger): SLB is a broad oilfield services incumbent offering subsea well intervention and production chemistry/equipment that intersects with TechnipFMC's Life of Field services. As a much larger diversified peer, it competes on selected subsea services and digital optimization offerings.
• Halliburton: Halliburton is a broad oilfield services incumbent; notably, TechnipFMC has a joint subsea fiber-optic service alliance with Halliburton. While Halliburton primarily serves upstream completion and drilling services, the partnership signals adjacent subsea service overlap.
• Wood Group: Wood Group is a UK-headquartered broad energy services incumbent with engineering, project management, and subsea/operations capabilities that intersect with TechnipFMC's concept/FEED and life-of-field services. It is a comparable engineering and operations player, though not a pure subsea equipment maker.

Emerging players

• Helix Energy Solutions: Helix Energy Solutions operates well intervention and subsea robotics vessels (ROV, IMR, riserless intervention) comparable to TechnipFMC's Life of Field services. As a smaller, specialized peer, it overlaps in intervention/IMR niches rather than full integrated subsea EPCI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/technipgroup
• YouTubeyoutube.com/channel/UCbRQbMxnU_54nlhF1XneL1A
• Facebookfacebook.com/TechnipGroup
• LinkedInlinkedin.com/company/technip
• Instagraminstagram.com/technipfmc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TechnipFMC