Evolving Needs Of the Energy market, Center Of Discussion

The Middle East is a key market for TechnipFMC.

Commenting on how TechnipFMC has ramped up activity in the Middle East, with one new facility and another expanded. Thierry Conti stated, "The Middle East is a strategic, fast-growing energy market with two of the largest national oil companies, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC)." "Their investment and vision, combined with a stable business environment, create a sustainable, high-visibility market for us."

"The region’s major players have developed advanced in-country value programs, such as In Kingdom Total Value Add (IKTVA) for Aramco and In-Country Value (ICV) for ADNOC, to drive economic growth. "They want companies to produce and invest there as well as provide the technologies and services they need to produce energy—I say energy because it’s not only oil and gas, but new energies,  he added.

TechnipFMC has a client-centric model. They develop strategies and solutions based on the technical and economic challenges facing their strategic partners and clients.

That’s a strong part of their culture. They put in effort to make sure they understood clients, converged, and met their requirements, as stated in the report.

According to Conti, the biggest opportunity for TechnipFMC in the Middle East is becoming the preferred supplier in the drilling and completions business by leveraging their local and global footprints.

He adds, "I’m confident we’ll do this because we’re the only global player focused on drilling, completion, and unconventionals operating at this level in the Middle East, and we have a worldwide track record of success."

"Long term, there’s opportunity to establish ourselves as a unique strategic partner and expand our offering." For example, there are our digitalization and electrification solutions—spaces where we are making progress in the global market, particularly in the United States. "The Middle East has huge, mature fields, and our intervention offering can help clients save money through smart solutions that boost production and reduce carbon intensity."

Thierry Conti highlighted our people’s dedication, their excellence in executing the delivery of products and services, and their ability to build relationships.

There are no ideas, no innovation, without people’s knowledge and skills. Our people are our brand, and our strong brand recognition is strengthening in the Middle East because of our increased presence, and the way we listen to and act on specific needs sets us apart from our competitors in the region.

When questioned about Surface Technologies innovating worldwide, he said, "For me, innovation isn’t only new products, although we are doing that with our carbon capture and storage wellhead systems, our hydrogen-ready wellhead, ultrasonic monitoring for CO₂ metering, or digital solutions such as E-MissionTM. "Innovation also applies to how we work, so we optimise our processes and portfolio."

He added, "Using simplification and standardization, we improve sustainability and reliability, which cuts lead time." That helps us and our clients. Based on our deep understanding of demand and trends, we’re more focused and efficient. For instance, Surface Technologies’ Coflexip flexible pipe product line has been reduced from 10 configurations to four. We’re also leveraging existing technology; for example, we’re qualifying our 10K valves for 12.5K applications. "Innovation is everywhere, always, and gives us a very strong competitive advantage."

He concluded that the key players have a pragmatic approach to their energy trilemma. Firstly, there’s no doubt the world demands more energy. Then there’s energy security, driven by global politics and economics. Finally, there’s the need for sustainable energy.

The Middle East energy sector has been accelerating sustainable solutions for many years through capital spending on decarbonization and new energies. The region will play a significant role in the energy transition. They are already engaging through their digital and smart solutions.