Rystad Energy’s latest analysis shows that the recently announced combination between Technip and FMC will create the second largest company in the oilfield service industry, after the merger between Halliburton and Baker Hughes failed.

Technip and FMC published today that the two companies will merge after a successful alliance through Forsys. This is the second time an alliance has led to M&A after Schlumberger acquired Cameron.

The merged company, TechnipFMC, will have an expected revenue of approximately USD 17 billion in 2016. Within the subsea space, it will control roughly 27% of the market and supply complete subsea production systems, SURF and subsea life-of-field services.

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