Technip S.A. (Paris, France), a leading engineering, project management and construction company for the global energy market, is doing strong business amid the downturn in oil prices. The company reported a total backlog of roughly 15 billion euros ($16.5 billion) at the end of the previous quarter--down from last year, but spread across onshore and offshore projects, as well as technology, consulting and equipment work. Industrial Info’s project database is tracking 273 projects, worth $145.35 billion, that involve Technip in some capacity; about 93% of the total investment value is attributed to just three industries: Oil & Gas Production, Petroleum Refining, and Chemical Processing.

In May, Technip signed a memorandum of understanding with FMC Technologies (NYSE:FTI) (Houston, Texas) to merge in an all-stock transaction. The new company will be named TechnipFMC. Industrial Info is tracking more than $25 billion in projects involving FMC; like Technip, its projects are heavily weighted toward the Oil & Gas Production and Chemical Processing industries, which make up more than 80% of the total investment value. Earlier this year, U.S. antitrust authorities approved the proposed, $13 billion merger, which is expected to wrap up in early 2017.

Although the Oil & Gas Production Industry alone accounts for more than half of the project spending involving Technip, the single largest project is in the Chemical Processing Industry: Petroliam Nasional Bhd’s (Petronas) (Kuala Lampur, Malaysia) $5 billion steam cracker addition at the Pengerang Petrochemical Complex (RAPID) in Pengerang, Malaysia. Technip’s Malaysian subsidiary is performing construction management services. For more information, see Industrial Info’s project report.

Petronas, the biggest investor in RAPID, recently reaffirmed its commitment to seeing the project through, but its subsidiary Petronas Chemicals Group Bhd (PetChem) reduced its investment in RAPID by about one-third, citing concerns about the prospects for the synthetic rubber segment, according to Malaysian newspaper The Star. PetChem said that the steep decline in global oil prices forced it to cancel a planned elastomers plant.

Other major projects include Total S.A. (NYSE:TOT) (Paris, France) and CNOOC Nigeria’s (Lagos, Nigeria) $4.2 billion crude-oil floating production and storage offloading (FPSO) vessel, in the Gulf of Guinea, offshore Nigeria; POLY-GCL Petroleum Holdings Limited’s (Beijing, China) $4 billion, first-phase LNG liquefaction plant in Djibouti, Djibouti; Energy Transfer Partners LP’s (NYSE:ETP) (Dallas, Texas) $3 billion LNG liquefaction plant in Lake Charles, Louisiana; and others from companies such as Petroliam Nasional Bhd, Sasol Limited (NYSE:SSL), and Statoil ASA (NYSE:STO).

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