TechnipFMC to acquire remaining shares in TIOS well intervention joint venture

TechnipFMC has confirmed its intention to acquire the remaining 49 per cent shares of TIOS, a joint venture between TechnipFMC and Norway’s Island Offshore Management.

Established in 2005, TIOS specialises in fully integrated riserless light well intervention (RLWI) services, including project management and engineering for plug and abandonment, riserless coiled tubing, and well completion and intervention operations.

TechnipFMC will continue to utilise Island Offshore as the vessel provider for RLWI services.