Oil services company Technip denies merger talks

PARIS, Dec. 10 (UPI) -- French oil field services company Technip denied speculation it was headed into a potential merger, touting its position as a world leader in the field.

"Following recent press articles with respect to possible strategic transactions involving Technip, we state that there are no ongoing discussions with respect to such transactions," the company said in a statement. "Technip is a world leader in project management, engineering and construction for the energy industry."

Lower crude oil prices have pushed some energy companies toward mergers. In November, U.S. regulators cleared the proposed $12.7 billion merger between oil field services company Schlumberger and tool-maker Cameron International.

When announcing the deal in August, Schlumberger Chief Executive Officer Paal Kibsgaard said innovation and integration would help companies like his survive the market downturn. Schlumberger counterpart Halliburton last year made a move to acquire rival Baker Hughes

This week, Bloomberg reported the French services company was in negotiations with FMC Technologies, which has headquarters in Houston. The report cited sources with knowledge of the talks asking for anonymity because of the confidential aspects of the negotiations.

There was no statement from FMC on the possibility for a merger with Technip.