Exclusive: Technip explores sale, has held talks with FMC Technologies - sources
French oilfield services company Technip (TECF.PA) is exploring a sale and has held talks with U.S. peer FMC Technologies Inc (FTI.N) about a potential combination, according to people familiar with the matter.
A deal would illustrate how lower energy prices are driving consolidation in the oil services sector, as companies seek savings and synergies to boost profits amid a supply glut that is weighing on exploration and production.
Technip and FMC Technologies, which have market capitalizations of 5.3 billion euros ($8 billion) and $6.8 billion respectively, have not yet agreed on terms and there is no certainty they will do so, the people said on Wednesday.
Technip has also held talks with other potential buyers, one of the people added.
The sources asked not to be identified because the negotiations are confidential. FMC Technologies and Technip did not immediately respond to requests for comment.