Technip FMC and Technip Energies pay $230m in fines to avoid corruption lawsuits

Subsidiaries of TechnipFMC and Technip Energies will pay fines of nearly €210m ($230m) to avoid lawsuits regarding subsea projects undertaken between 2008 and 2012.

Technip UK Limited, a subsidiary of TechnipFMC, and Technip Energies France SAS, a subsidiary of Technip Energies settled matters with France’s national financial prosecutor or Parquet National Financier (PNF).

PNF said that the resolution encompassed the corruption of foreign public officials between 2008 and 2012 related to subsea projects undertaken by the former Technip S.A. group, mainly in Africa.

This settlement took the form of a convention judiciaire d’interet public, or CJIP. The CJIP remains subject to final approval by the President of the Tribunal Judiciaire of Paris.

The CJIP settlement is not an admission of liability or guilt, nor is it a conviction of Technip FMC or Technip Energies but it does result in avoiding prosecution.

Under the terms of the CJIP, Technip UK and Technip Energies France will pay a fine of €154.8m and €54.1m, respectively, for a total of €208.9m.

TechnipFMC is responsible for €179.45m to be paid in instalments through July 2024, and Technip Energies is responsible for the remaining €29.45m under their separation agreement from January 2021.

Technip S.A. merged with FMC Technologies to form TechnipFMC in 2017. The company split up in 2021 into two independent engineering companies, TechnipFMC and Technip Energies.