TechnipFMC Buys out TIOS
TechnipFMC 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 TechnipFMC’s 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 since 2005.
The company will continue to utilize Island Offshore as the vessel provider for RLWI services.
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