Paul Redmond

Paul Redmond asked about the risks of competitors replicating TechnipFMC's iEPCI or Subsea 2.0 solutions, given the company's strong performance, and whether customers are attempting to copy these approaches.

Answer

Doug Pferdehirt, Chair and CEO, TechnipFMC, stated that replicating their integrated approach is 'very difficult,' having taken TechnipFMC four years of detailed engineering. He emphasized that TechnipFMC chose a path of integration while competitors pursued consolidation, and the company remains committed to its strategy.

Paul Redmond asked about the risks of competitors replicating TechnipFMC's iEPCI or Subsea 2.0 solutions, given the company's strong performance, and whether customers are attempting to copy these models.

Answer

Doug Pferdehirt, Chair and CEO, TechnipFMC, stated that replicating iEPCI and Subsea 2.0 is very difficult, noting it took TechnipFMC four years of detailed engineering. He emphasized that while others could potentially do it, TechnipFMC was the only company that chose the path of integration, a different strategy compared to competitors who opted for consolidation.