TechnipFMC Reaches Resolution of French Parquet National Financier (PNF) Investigation

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- Technip UK Limited, a subsidiary of TechnipFMC plc (NYSE:FTI), and Technip Energies France SAS, a subsidiary of Technip Energies NV, have agreed to resolve their outstanding matters with the French Parquet National Financier (PNF). The resolution encompasses historical conduct arising from nearly fifteen-year-old former Technip S.A. group projects. This settlement took the form of a convention judiciaire d'interet public, or CJIP, which does not involve any admission of liability or guilt. The CJIP remains subject to final approval by the President of the Tribunal Judiciaire of Paris at a hearing scheduled on June 28, 2023.

Under the terms of the CJIP, Technip UK and Technip Energies France will pay a fine of €154.8 million and €54.1 million, respectively, for a total of €208.9 million. TechnipFMC is responsible for €179.45 million to be paid in installments through July 2024, and Technip Energies is responsible for the remaining €29.45 million under their separation agreement.

TechnipFMC fully cooperated with the PNF and will not be required to retain a monitor.

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Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

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Source: TechnipFMC plc