TechnipFMC (FTI) Acquires Remaining 49% of TIOS

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Go back to TechnipFMC (FTI) Acquires Remaining 49% of TIOS

TechnipFMC to Acquire Remaining Shares of Joint Venture TIOS

July 29, 2021 4:15 PM EDT

LONDON & HOUSTON--(BUSINESS WIRE)-- Regulatory News:

TechnipFMC (NYSE: FTI) (PARIS: FTI) intends to acquire the remaining 49% of shares in TIOS AS, a joint venture between TechnipFMC and Island Offshore Management AS (Island Offshore) formed in 2018. This will accelerate the development of TechnipFMCs integrated service model focused on maximizing value to our clients.

TIOS provides fully integrated Riserless Light Well Intervention (RLWI) services, including project management and engineering for plug & abandonment, riserless coiled tubing, and well completion and intervention operations, and has serviced over 740 wells globally... More