LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jan. 29, 2019-- TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded a substantial(1) integrated Engineering, Procurement, Construction and Installation (iEPCITM) contract from Lundin Norway for the Luno II and Rolvsnes development, located in the North Sea at a water depth of 110 meters.
The contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines, flexible jumpers and subsea production systems.
Arnaud Piéton, President Subsea at TechnipFMC, commented: “This award demonstrates our leadership position in iEPCITM for complete subsea developments. Our strong value proposition builds on early involvement and integrated solutions. By simplifying subsea field architecture, we help our clients improve their project economics. We are honored that Lundin Norway is embracing our innovative and comprehensive solutions, engaging with us early through iFEEDTM (integrated FEED) studies and realizing the full scope through an integrated EPCI, finding within TechnipFMC all the architects, the competencies, the equipment and services necessary to support this project.”
(1)For TechnipFMC, a “substantial” contract ranges between $250 million and $500 million.
Important Information for Investors and Securityholders
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.
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