Page 12 - EurOil Week 08 2021

EurOil PROJECTS & COMPANIES EurOil

TechnipFMC wraps up split

FRANCE FRENCH engineering group TechnipFMC has the market leader and industry’s only fully inte-
wrapped up the separation of its engineering and grated pure-play, we are uniquely positioned to
construction operations from its services and transform our clients’ project economies, help-
technology activities. ing them to unlock traditional and new energy
TechnipFMC announced the split in mid- resources while reducing carbon intensity and
2019, two years after the company’s creation supporting their energy transition ambitions.”
through the merger between France-based Both parts of the once unified business scored
Technip and US-based FMC Technologies. But key contracts this month. Qatar Petroleum
it put the process on hold after the coronavirus awarded Technip Energies and Japan’s Chiyoda a
(COVID-19) pandemic struck. deal to build onshore facilities at the North Field
Work resumed last month and the separation East project. Meanwhile, Mediterranean pro-
was completed on February 16. TechnipFMC ducer Energean hired TechnipFMC for a subsea
has kept control of services and technologies tie-back at an offshore gas project in Egypt.
and now has some 21,000 employees worldwide, As part of the split, Simon Eyers has joined
while the newly formed Technip Energies now the directors board of Technip Energies. He
handles engineering and construction, and has served as managing director of Warburg Pin-
15,000 workers. cus International between 2012 and 2018, with
The latter’s technical reference price was set a focus on energy investments, and as a senior
at €9.00 ($10.9) ahead of its direct listing on the advisor until the end of last year.
Euronext Paris Exchange, where it trades under “We are pleased to welcome Simon Eyers to
the TE symbol. Shares in the company soared the Technip Energies board,” Technip Energies
more than 30% in the first day of trading, reach- CEO Arnaud Pieton said. “Simon’s deep under-
ing €11.83. standing of global energy markets and strong
“I am delighted to announce the successful experience with the development of new tech-
completion of the separation transaction,” Tech- nologies will be invaluable as we grow our busi-
nipFMC CEO Doug Pferdehirt commented. “As ness in the future.” ™

Neptune expands German position

GERMANY NORTH-WEST Europe-focused Neptune this region, which has long-term potential for
Energy has struck a deal to buy interests in energy production.”
Neptune bought several oil and gas fields in the Grafschaft and The deal is subject to partner approvals and
other Wintershall Dea Bentheim regions of north-west Germany from is due for completion in the first half of 2021,
interests in Germany in Wintershall Dea. Neptune said.
2019. The transaction will increase Neptune’s The company said it was committed to opti-
positions at the Adorf, Apeldom and Ringe mising production and developing new assets in
gas fields and the Adorf-Scheerhorn, Georgs- Germany, which it described as a core region. It
dorf and Ringe oilfields, the company said in a is currently developing the Adorf Carboniferous
statement on February 19. This will add around gas field there, which it discovered in 2020.
1,800 barrels of oil equivalent per day (boepd) to Neptune flowed the first gas from the Adorf
Neptune’s output in Germany, amounting to an Carboniferous field last November. During pro-
increase of around 10%. duction tests, flow rates of up to 1,700 boepd
Neptune operates all of the fields save for were achieved. The company plans to sink its
Georgsdorf. The latest deal comes after the com- next development well at the site in the first half
pany acquired interests in various other fields of of this year. ™
the Grafschaft Bentheim and Emsland region
from Wintershall Dea in 2019, adding around
600 boepd to its portfolio.
“Increasing our interest in these fields is of
strategic importance for us, enhancing our pro-
duction and underlining our commitment to a
key producing area in Germany,” Neptune Ener-
gy’s managing director for Germany, Andreas
Scheck, commented. “We have been an operator
or partner in these fields for many years and are
well-positioned to leverage our experience in

P12 www. NEWSBASE .com Week 08 25•February•2021