Subsea companies FMC Technologies and Technip have launched Forsys Subsea, a 50/50 joint venture (JV), after receiving all regulatory approvals.

By combining the technologies of the parent companies, the JV will reduce the interfaces of subsea umbilical, riser and flowline systems (SURF) and subsea production and processing systems (SPS).

The London-headquartered Forsys Subsea will also simplify the seabed layout and minimise complexity and increase time to first oil, while enabling sustainable field production.

"We will enable customers to take advantage of lower costs, reduced execution time and execution risks, and higher uptime of the installed base by leveraging the combined technologies and execution capabilities of the parent companies."

Forsys Subsea CEO Rasmus Sunde said: "With Forsys Subsea we are launching an exciting and compelling business proposition by providing front-end engineering and life-of-field decision support to our customers.

"Based on this, we will enable customers to take advantage of lower costs, reduced execution time and execution risks, and higher uptime of the installed base by leveraging the combined technologies and execution capabilities of the parent companies."

Initially announced in March, it will focus on early involvement in the concept selection phase of front-end engineering and design.

Emphasis will also be on integrated life-of-field well surveillance, monitoring, data interpretation as well as advisory services.

Forsys Subsea has regional hubs in Houston, Oslo, Paris, Rio de Janeiro and Singapore.

With a workforce of 320 people, the JV will be supported by the 58,000 employees of FMC Technologies and Technip.