Forsys Subsea, a joint venture formed to “redefine the way subsea fields are designed, delivered and maintained,” received all regulatory approvals. As a result, FMC Technologies Inc. and Technip, owners of the 50/50 joint venture, closed the transaction and made Forsys Subsea operational on June 1. The venture is part of a broader alliance between FMC Technologies and Technip that combines the capabilities of the two subsea providers.

The joint venture is expected to reduce the interfaces of the subsea umbilical, riser and flowline systems, and subsea production and processing systems. The companies also hope it will simplify seabed layout, thereby reducing complexity, accelerating time to first oil, and enabling higher sustainable field production.

The company is headquartered in London with regional hubs in Houston, Oslo, Paris, Rio de Janeiro and Singapore.