FMC Technologies, Inc. (NYSE: FTI) announced today that it has formed a joint venture with Louisiana-based Edison Chouest Offshore that will provide vessel-based subsea services for the oil and gas industry.
The new joint venture will service clients utilizing the subsea technologies, tooling and expertise of FMC Technologies, and the vessel, port logistics and ROV operations of Edison Chouest Offshore.
Services to be offered by the joint venture include equipment intervention, riserless light well intervention, plug and abandonment and other services. The company’s objective is to provide cost-effective solutions to enhance the customer’s ability to initiate, maintain, and increase production from subsea field developments through efficient operations, innovative technologies and a broad inventory of vessels and tools.
“We are pleased to be working with Edison Chouest Offshore to expand the portfolio of subsea services offered by FMC Technologies,” said Tore Halvorsen, FMC Technologies’ Senior Vice President, Subsea Technologies. “This joint venture will provide integrated subsea solutions to address the growing needs of our customers to increase production and improve field recovery rates.”
“We look forward to working with FMC Technologies on this new venture,” said Dino Chouest, Vice President of Operations, Edison Chouest Offshore. “Their leadership in the subsea market combined with our expertise in marine transportation will bring new integrated technologies and operations to the development of subsea fields.”
The new company will be based in Houston, Texas.