Company Overview - TechnipFMC is focused on transforming the offshore oil and gas industry to restore customer confidence and attract capital back to offshore projects [2][3] - The company identified the need for a material change in business practices between 2012 and 2014 to address challenges in delivering large and complex offshore projects [2] Industry Context - The offshore oil and gas sector faced significant competition from U.S. unconventionals, which were capturing a growing share of total capital expenditure [2] - The primary challenge for the industry has been ensuring certainty in the delivery of offshore developments, which TechnipFMC aims to address [3]