Technip S.A. was a company that carried out project management , engineering and construction for the energy industry ; in 2017 it completed a merger with FMC Technologies to form TechnipFMC . Its headquarters were in the 16th arrondissement of Paris . It has about 38,000 employees and operates in 48 countries.
58-460: TechnipFMC is primarily in the energy business and is active in three business segments, namely Subsea , Offshore & Onshore . It has around 38,000 employees and operates in 48 countries. It owns a fleet of 21 vessels in operation with 6 more under construction. As of the end of 2014, while the operating income of Technip Group from recurring activities stood at ~ Euros 825 million, the total revenues stood at more than Euros 10.7 billion. Technip
116-630: A Media and Stakeholder Analysis component to the annual Corporate Sustainability Assessment, in order to complement and help corroborate the questionnaire and documentation provided by the participating companies. For the MSA, RobecoSAM works with RepRisk , a global research firm specialized in risk analytics and metrics related to environmental, social and governance (ESG) issues. RepRisk screens media outlets, stakeholder groups and other publicly available sources to identify risks, which are then systematically analyzed and quantified. It has been also found that in
174-527: A family of indices evaluating the sustainability performance of thousands of companies trading publicly, operated under a strategic partnership between S&P Dow Jones Indices and RobecoSAM (Sustainable Asset Management) of the S&;P Dow Jones Indices. They are the longest-running global sustainability benchmarks worldwide and have become the key reference point in sustainability investing for investors and companies alike. In 2012, S&P Dow Jones Indices
232-433: A few hundred feet water depth maximum) and robotic equipment for deeper water depths. Any requirement to repair or intervene with installed subsea equipment is thus normally very expensive. This type of expense can result in economic failure of the subsea development. Subsea technology in offshore oil and gas production is a highly specialized field of application with particular demands on engineering and simulation. Most of
290-589: A field by means of a subsea production system, since traditional surface facilities such as on a steel-piled jacket, might be either technically unfeasible or uneconomical due to the water depth. The development of subsea oil and gas fields requires specialized equipment. The equipment must be reliable enough to safeguard the environment and make the exploitation of the subsea hydrocarbons economically feasible. The deployment of such equipment requires specialized and expensive vessels, which need to be equipped with diving equipment for relatively shallow equipment work (i.e.
348-717: A firm specialized in the design, manufacture, and supply of flexible subsea flowlines – was created by the IFP (French Petroleum Institute) and opened a flexible flowline manufacturing plant in Le Trait, France, as well as offices in Houston , Aberdeen and Rio de Janeiro . In the 1980s Technip opened operating centers in Kuala Lumpur and Abu Dhabi. Coflexip opened a second flowline manufacturing plant in Brazil and branched out into
406-668: A higher percentage of companies analyzed and a lower number of companies that are reviewed in the subset. The DJSI Korea is also reviewed on an annual and quarterly basis, whereas the DJSI Korea 20 is reviewed annually. A defined set of criteria is used to assess the economic, social, and environmental opportunities of the companies that the DJSI has listed, which are chosen based on the Corporate Sustainability Assessment by RobecoSAM. Information comes from
464-423: A significant new player in an energy industry racked by a nearly two-year slump in crude prices. The all-share deal would result in a new company named TechnipFMC with a market value of about $ 13 billion. TechnipFMC has three headquarters in Houston , Paris , and London under new Houston-based CEO Doug Pferdehirt, who worked as FMC’s chief operating officer . Former Technip chairman and CEO Thierry Pilenko
522-854: A similar design as the DJSI Europe and also reviews the top-20 percent of the 600 largest companies, but in this case in North America. It was originally launched, along with its subset Dow Jones Sustainability United States Index (DJSI United States), in September 2005. Both indexes are further broken down by the Dow Jones Sustainability North America 40 Index (DJSI North America 40) and the Dow Jones Sustainability United States 40 Index (DJSI United States 40), which cover
580-512: A single satellite well with a flowline linked to a fixed platform , FPSO or an onshore installation, to several wells on a template or clustered around a manifold, and transferring to a fixed or floating facility, or directly to an onshore installation. Subsea production systems can be used to develop reservoirs, or parts of reservoirs, which require drilling of the wells from more than one location. Deep water conditions, or even ultradeep water conditions, can also inherently dictate development of
638-514: Is not practical. Subsea completions can be traced back to 1943 with the Lake Erie completion at a 35 ft (11 m) water depth. The well had a land-type Christmas tree that required diver intervention for installation, maintenance, and flow line connections. Shell completed its first subsea well in the Gulf of Mexico in 1961. Subsea oil production systems can range in complexity from
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#1732790724328696-645: Is seen below. Number of invited companies in 2010: Some of the assessment criteria have varied slightly from year to year to reflect growing information about particular issues such as water related risks, brand management, corporate citizenship, risk and crisis management. Continuous improvement allows for SAM to provide both relevant and current information. Since 1999, SAM's Corporate Sustainability Assessment has increased in number of assessed companies, number of sectors, number of questions to companies, average totally sustainability score, and weight of sector-specific criteria in percentage total weight. Included in
754-472: Is the new executive chairman. In August 2019, Doug Pferdehirt announces that TechnipFMC will be split into two independent engineering companies. The separation is expected to be completed by the end of the first semester of 2020. The former Technip entity, without the subsea business, was renamed Technip Energies . In the 1990s Technip was listed on the Paris Stock Exchange and Coflexip on
812-445: Is the real-time virtual test of systems for subsea production, subsea drilling, supply above sea level, seismography, subsea construction equipment, and subsea process measurement and control equipment. The power transmission infrastructure for offshore wind power utilizes a variety of subsea technologies for the installation and maintenance of submarine power transmission cables and other electrical energy equipment. In addition,
870-405: Is then systematically analyzed and quantified. If a critical event happens, the situation is analyzed by RobecoSAM for the scope in which it reaches. If large enough, the event will be analyzed further based on severity, media coverage, and crisis management. RobecoSAM analysts decide from here whether the company will be excluded from the DJSI. An assurance report is completed by Deloitte to ensure
928-559: The Minerals Management Service (MMS, US), Norwegian Petroleum Directorate (NPD, Norway), and Health & Safety Executive (HSE, UK). The MMS administers the mineral resources in the US (using Code of Federal Regulations (CFR)) and provides management of all the US subsea mineral and renewable energy resources. Dow Jones Sustainability Index The Dow Jones Sustainability Indices ( DJSI ) launched in 1999, are
986-637: The New York Stock Exchange . Technip was included in the CAC40 French benchmark index in September 2009. In June 2010 Technip S.A. agreed to pay a $ 338 million criminal penalty to resolve charges related to the Foreign Corrupt Practices Act (FCPA) for its participation in a decade-long scheme to bribe Nigerian government officials to obtain engineering, procurement, and construction (EPC) contracts. In 2011,
1044-400: The monopile foundations of fixed-bottom wind turbines and the anchoring and cable structures of floating wind turbines are regularly inspected with a variety of shipborne subsea technology. Recent technological advancements have given rise to the use of remotely operated vehicles (ROVs) to collect mineral samples from prospective mine sites. Using drills and other cutting tools,
1102-471: The 2000s, Technip merged with Coflexip, which had just acquired Aker Maritime's Deepwater Division. The unified group is now one of the top five companies worldwide in engineering, technology, and services for the energy industry. Many major contracts are signed, notably in the Middle East in the liquefied natural gas (LNG), ethylene, and refining sectors. In 2010 three major assets came into operation:
1160-683: The 60 industries defined according to the Industry Classification Benchmark (ICB). The DJSI family contains one main global index, the DJSI World, and various indexes based on geographic regions such as: Europe, Nordic, North America and Asia Pacific. The DJSI also contains industry-specific indexes called "blue chip indexes". In addition, the DJSI methodology facilitates the design, development and delivery of customized sustainability indexes; e.g., indexes covering different regions, indexes covering different segments of
1218-617: The DJSI Asia Pacific included 122 companies and captures the leading 20 percent of the top-600 companies in developed Asia Pacific Markets in terms of sustainability as derived from the DJGTSMI. DJSI Asia Pacific 40, the subset, tracks the largest 40 companies who are sustainability leaders in the Asia Pacific region. The Dow Jones Sustainability Korea Index (DJSI Korea) is derived from the smallest pool of companies, tracking
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#17327907243281276-429: The DJSI the three dimensions of sustainability are not considered in a balanced way, being biased towards economic criteria to the disadvantage of social and environmental ones. A further bias of the DJSI is that it only includes large companies, whereas other indices include smaller companies as well. As a consequence of these limitations, a survey conducted among sustainability experts found that only 48 percent considered
1334-625: The DJSI. Once a company is listed on the DJSI, it is monitored daily for any critical arising issues, which can lead to the exclusion of the company if deemed critical enough. Examples of events that would lead to exclusion include: commercial practices, human rights abuses, layoffs or worker disputes, or catastrophic disasters. This monitoring is supported by RepRisk, a global research firm and provider of environmental, social and governance (ESG) risk data. RepRisk screens media outlets, stakeholder groups and other publicly available sources to identify risks related to these issues. The information gathered
1392-796: The Dow Jones Sustainability Europe 40 Index (DJSI Europe 40) and the Dow Jones Sustainability Eurozone 40 Index (DJSI Eurozone 40), both of which were also launched in August 2010. These track the top-40 sustainability leaders in Europe and the smaller Eurozone region. DJSI Europe and eurozone are reviewed annually as well as quarterly to maintain accuracy of the index composition while the DJSI Europe 40 and DJSI Eurozone 40 are reviewed only annually. The Dow Jones Sustainability North American Index has
1450-574: The Index. Indexes are updated yearly and companies are monitored throughout the year. Indexes are denominated in both US dollars and Euros and are calculated using the Laspeyres formula . All indexes that are not subsets include companies that generate revenue from alcohol, tobacco, gambling, armaments and firearms, and adult entertainment. Index components are based on free-float market capitalization and most main indexes are reviewed quarterly, excluding
1508-466: The ROVs obtain samples to be analyzed for desired minerals. Once a site has been located, a mining ship or station is set up to mine the area. Seafloor mineral mining of seafloor massive sulfide deposits (so named for the sulfide molecules, not the deposit size) are a developing subsea mineral mining industry. Nautilus Minerals Inc. had begun to establish a new industry by commercially exploring and, in
1566-953: The Technip fleet expanded to 17 vessels with the addition of the Apache II, one of the most advanced pipelay vessels in the industry, and the Skandi Vitoria, a Brazilian-flagged vessel dedicated to the pre-salt market. Asiaflex Products, the Group’s third flexible pipe production plant, located in Tanjung Langsat, Malaysia was inaugurated. In 2011, Technip acquired Global Industries, substantially expanding its addressable market in subsea. In 2012 Technip acquired Stone & Webster Process Technologies and associated oil and gas engineering capabilities from The Shaw Group . In 2017, FMC Technologies Inc. and Technip agreed to merge, forming
1624-563: The US Securities & Exchange Commission (SEC) filed a lawsuit in the federal Southern District of New York alleging insider trading. Technip was certified as one of the first five companies in the world as a Global Top-Employer 2015 which recognizes first-class employee offerings globally and equally. This independent certification delivered by the Top Employers Institute demonstrates the quality and consistency of
1682-573: The annual RobecoSAM questionnaire (the Corporate Sustainability Assessment), company documentation, the Media and Stakeholder Analysis (an examination of media coverage, stakeholder commentaries and other publicly available sources provided by RepRisk ESG Business Intelligence), and personal contact with the companies. Industry leaders from RobecoSAM Research's Corporate Sustainability Assessment are chosen to be listed on
1740-535: The company’s human resources policies and practices all around the globe. Technip has also been certified as a Top-Employer in 24 countries (Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Italy, Malaysia, Mexico, Netherlands, Norway, Portugal, Qatar, Russia, Singapore, Spain, Thailand, United Arab Emirates, United Kingdom, United States, Venezuela, and Vietnam) as well as in three regions (Asia-Pacific, Europe, and Latin America). In July 2015, it
1798-556: The different facilities and approaches that are needed. The term shallow water or shelf is used for very shallow water depths where bottom-founded facilities like jackup drilling rigs and fixed offshore structures can be used, and where saturation diving is feasible. Deepwater is a term often used to refer to offshore projects located in water depths greater than around 600 feet (180 m), where floating drilling vessels and floating oil platforms are used, and remotely operated underwater vehicles are required as crewed diving
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1856-514: The future, planned to extract copper, gold, silver and zinc in its Solwara 1 Project. The project was establishing its operations 1 mile (1.6 km) beneath the ocean surface in the Bismarck Sea near Papua New Guinea . When fully underway the operation would have been the world’s first commercial deep sea mining project. First production was expected to begin in 2017, but the company went bankrupt in 2019 after failing to secure funding for
1914-556: The leading 20 percent of the largest 600 European companies in terms of sustainability from the DJGTSMI. It is subset by three different more specific indexes for the region, the main subset being the Dow Jones Sustainability Eurozone Index (DJSI Eurozone). This index tracks the financial performance of sustainability leaders in the smaller eurozone region. Both indexes were launched in August 2010 and have their own further subset. The two subsets are
1972-712: The leading 40 sustainability driven companies in North America and the United States, respectively. Both subsets, however, were not launched until August 2008, three years after the DJSI North America. The Dow Jones Sustainability Asian Pacific Index (DJSI Asia Pacific) was launched at the same time as its single subset, the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40), in January 2009. As of 2009,
2030-437: The leading sustainability companies, indexes covering additional exclusion criteria and indexes denominated in different currencies. To be incorporated in the DJSI, companies are assessed and selected based on their long-term economic, social and environmental asset management plans. Selection criteria evolve each year and companies must continue to make improvements to their long-term sustainability plans in order to remain on
2088-411: The listed companies' operation, even in those instances when submitted information if verified by an auditing firm such as PricewaterhouseCoopers, KPMG, etc. Ultimately, companies with challenging corporate environmental and social issues are more likely to devote public relations resources to minimize the perception of risk within their operations. In order to address some of this feedback, RobecoSAM added
2146-709: The manufacture of umbilicals with the establishment of the Duco plant in Newcastle, UK. Coflexip acquired Stena Offshore while Technip acquired several companies with strong technological expertise: Speichim , Krebs and KTI . Already established in the United States, KTI enabled Technip to set up in North America . Coflexip established a presence in Australia and acquired the Norwegian company Stena Offshore. In
2204-409: The most recent SAM questionnaire are more difficult to measure intangible business attributes such as innovation and customer relationship management. Questions are both directed at short-term risks and opportunities and sustainable long-term value creation. The intensity of the industry-specific criteria has continuously increased. In 1999, industry-specific information accounted for only 30 percent of
2262-563: The most sustainable 30 percent of the largest 200 Korean companies. The DJSI Korea was launched in October 2009, along with its subset the Dow Jones Sustainability Korea 20 Index (DJSI Korea 20). As of that date, 41 companies were included in the DJSI Korea. DJSI Korea 20 encompasses the largest 20 sustainable leading companies in the region. The index encompasses a smaller region than the other indexes resulting in
2320-541: The new oil fields are located in deep water and are generally referred to as deepwater systems. Development of these fields sets strict requirements for verification of the various systems’ functions and their compliance with current requirements and specifications. This is because of the high costs and time involved in changing a pre-existing system due to the specialized vessels with advanced onboard equipment. A full-scale test ( System Integration Test – SIT) does not provide satisfactory verification of deepwater systems because
2378-479: The onset of DJSI's assessment criteria, SAM mainly focused on government compliance and regulations. It has evolved to embrace corporate sustainability as a key competitive advantage, taking into account nine specific criteria in addition to industry-specific criteria. Below are the criteria and weightings SAM uses to assess a company's overall score. These weightings are approximations, and actual weightings may differ between industries. A breakdown of these dimensions
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2436-434: The overall score, while now it accounts for nearly 60 percent. From these questionnaires, each company can be awarded one or a combination of the following status: SAM uses four sources of information to assess corporate sustainability: company questionnaire (the Corporate Sustainability Assessment), company documentation, Media and Stakeholder Analysis, and contact with companies. Using self-reported data as proxies for
2494-428: The performance of the largest 80 companies globally in terms of sustainability, with the DJSI World ex US 80 excluding the US from the top 80. The DJSI World and its subset are all reviewed on an annual basis. The ICB breakdown is shown here, with consumer discretionary being the most represented sector. Companies in bold represent the top ten holdings by index weight. The Dow Jones Sustainability Europe Index covers
2552-730: The project. Remotely Operated Vehicles (ROVs) are robotic pieces of equipment operated from afar to perform tasks on the sea floor. ROVs are available in a wide variety of function capabilities and complexities from simple "eyeball" camera devices, to multi-appendage machines that require multiple operators to operate or "fly" the equipment. Other Professional Equipments used in installation of Sub Sea Telecommunication cable are specially designed crafts, modular barges, Water Pump along with Diving support and other accessories to seamlessly conduct installation operations in Deep Sea and Near Shore end, Rivers, Lakes. There are few professional companies in
2610-407: The seabed. The term subsea is frequently used in connection with oceanography , marine or ocean engineering , ocean exploration , remotely operated vehicle (ROVs) autonomous underwater vehicles (AUVs), submarine communications or power cables , seafloor mineral mining , oil and gas , and offshore wind power . Oil and gas fields reside beneath many inland waters and offshore areas around
2668-521: The social or environmental effects the DJSI intends to reflect leaves the index exposed to corporate biases and additional credibility risks. It rewards companies with greatest capacity to respond to SAM's questionnaires and information requests rather than those with the best socially responsible practices. Secondly, relying on self-reported data carries substantial risks since information from companies may not be completely credible. An index based on biased information often underestimates real risk factors in
2726-436: The system's functions, and dynamic properties, against various requirements specifications. This includes the model-based development of innovative high-tech plants and system solutions for the exploitation and production of energy resources in an environmentally friendly way as well as the analysis and evaluation of the dynamic behavior of components and systems used for the production and distribution of oil and gas. Another part
2784-413: The test, for practical reasons, cannot be performed under conditions identical to those under which the system will later operate. The oil industry has therefore adopted modern data technology as a tool for virtual testing of deepwater systems that enables detection of costly faults at an early phase of the project. By using modern simulation tools, models of deepwater systems can be set up and used to verify
2842-444: The use of batteries, power provided from generators on ships or platforms with fossil fuel generators, or for lower power requirements, wind, solar, or wave energy harvesting buoys. A number of professional societies and trade bodies are involved with the subsea industry around the world. Such groups include Government agencies administer regulations in their territorial waters around the world. Examples of such government agencies are
2900-813: The validity of the company's information. In early 2009, an independent expert study commissioned by the United Nations Environment Programme Finance Initiative (UNEP FI) and presented at the World Economic Forum in Davos , highlighted the SAM assessment as "the most rigorous in terms of the number of questions and depth of information requested". In 2009, SAM carried out its 11th-consecutive Corporate Sustainability Assessment, assessing more than 1,200 companies, an increase of eight percent from 2008. At
2958-679: The waters between the Florida Straits and Cape Hatteras. Research and projects are developing to harvest energy from hydrothermal vents to provide power for subsea ocean research instruments, developing autonomous vehicle recharge technologies, seabed sensor systems, and environmental research applications. Other investigations include harvesting energy from differences in temperature that occur with varied ocean depth, and microbial fuel cells that produce energy from organisms in ocean seafloor sediments. Current methods for providing power for electric applications on offshore seabeds are limited to
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#17327907243283016-470: The world index. Customized indexes are continuously being developed and delivered to encompass different regions or individualized sections of companies to add additional exclusions when needed and to change the currencies they are denoted in. The DJSI have been divided into various benchmarks including the World, Europe, North America, Asia Pacific, Nordic, and Korean indexes. The World Index, or DJSI World,
3074-423: The world who own, operate such equipments and carry out operations worldwide on turnkey basis. Subsea energy technologies are the subject of investigation using a number of technical strategies, none of which have yet been commercialized to become viable products or new energy industries. Energy sources under investigation include utility scale power production from ocean currents, such as the rapid currents found in
3132-463: The world, and in the oil and gas industry the term subsea relates to the exploration, drilling and development of oil and gas fields in these underwater locations. Under water oil fields and facilities are generically referred to using a subsea prefix, such as subsea well , subsea field , subsea project , and subsea developments. Subsea oil field developments are usually split into Shallow water and Deepwater categories to distinguish between
3190-867: Was announced that the company would lay off 6,000 employees due to the industry downturn. The Technip share is listed on Euronext Paris and the American over-the-counter market. The Technip share is included in the Dow Jones Sustainability Index and the Low Carbon 100 index and the ASPI Eurozone. (a) Does not include the exercise of options arising from the current share purchase or share subscription option plans. Subsea Subsea technology involves fully submerged ocean equipment, operations, or applications, especially when some distance offshore, in deep ocean waters, or on
3248-542: Was established in 1958 by IFP, Institut français du pétrole , as Compagnie française d'études et de construction Technip. In the 1960s, the company completed its first international projects in Africa and Asia. In the 1970s Technip became an international group with the acquisition of an office in Rome and the creation of Technip Geoproduction, a subsidiary specialized in hydrocarbon field equipment. During this period, Coflexip –
3306-723: Was first published in September 1999. It is based on the largest 2,500 companies in the Dow Jones Global Total Stock Market Index (DJGTSMI). It covers the top-ten percent of these companies in terms of economic, environmental, and social criteria which equals about 300 companies. The DJSI World has two subset indexes, which are the Dow Jones Sustainability Index World 80 (DJSI World 80) and the Dow Jones Sustainability Index World ex US 80 (DJSI World ex US 80). Both subsets were initially published in August 2008 and track
3364-488: Was formed via the merger of S&P Indices and Dow Jones Indexes. The DJSI is based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management , branding, climate change mitigation , supply chain standards and labor practices. The trend is to reject companies that do not operate in a sustainable and ethical manner. It includes general as well as industry-specific sustainability criteria for each of
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