TechnipFMC and Technip Energies hit by $230 million fine for ‘conduct’ on African projects

Subsidiaries of TechnipFMC and Technip Energies will pay fines totalling €208.9 million ($229.1 million) related to their “conduct” about 15 years ago on projects in Africa in which their predecessor company Technip SA was involved.

Technip merged with TechnipFMC in 2017 to create TechnipFMC, while Technip Energies was spun out of TechnipFMC in May 2021.

According to a TechnipFMC statement issued on Tuesday, Technip UK Ltd, a subsidiary of New York-listed TechnipFMC, and Technip Energies France SAS, a subsidiary of Paris-based Technip Energies NV, have agreed to resolve outstanding matters with the ‘Parquet National Financier,’ or PNF, which is France’s Financial Prosecutions Office.