|TechnipFMC and Island Offshore Enter into a Strategic Collaboration Agreement for Riserless Light Well Intervention|
Island Offshore Subsea AS has developed proprietary designs related to
subsea P&A and riserless coiled tubing. In connection with the
acquisition of the controlling interest,
Hallvard Hasselknippe, President of TechnipFMC’s Subsea business, stated: “We are now able to deliver a complete range of RLWI services to markets, globally. Our current track record delivering RLWI services together with Island Offshore has significantly increased production from more than 500 subsea wells.”
Odd Strømsnes, Vice President of Offshore Integrated Services at
The agreement with
Important Information for Investors and Securityholders
This release contains "forward-looking statements" as defined in Section
27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended.
Forward-looking statements involve significant risks, uncertainties and
assumptions that could cause actual results to differ materially from
the Company’s historical experience and present expectations or
projections. These risks, uncertainties and assumptions relate to, among
other things, the Company’s ability to consummate the proposed
transaction with Island Offshore Subsea AS, including the satisfaction
of the conditions to consummation of the transaction; the Company’s
ability to successfully integrate Island Offshore Subsea AS’ operations
and employees as well as to work with a minority partner in Island
Offshore Subsea AS; the Company’s ability to realize anticipated
synergies and cost savings from the transaction with Island Offshore
Subsea AS; and the potential impact of the announcement or consummation
of the transaction with Island Offshore subsea AS on relationships,
including with employees, suppliers, customers and competitors of the
Company and Island Offshore Subsea AS . For additional information
regarding known material factors that could cause actual results to
differ from projected results, please see our risk factors set forth in
our filings with the
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 40,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
To learn more about us and how we are enhancing the performance of
the world’s energy industry, go to TechnipFMC.com and follow us on
About Island Offshore
Island Offshore operates a modern and versatile fleet of 25 advanced and high quality service vessels for the offshore oil industry. The company has taken a leading position within attractive market segments such as platform supply, anchor handling, walk-to-work, well stimulation, subsea construction and light well intervention (LWI).
The main office of Island Offshore Management AS is situated in