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Press Release

TechnipFMC Awarded Contract for India’s Largest Hydrogen Generation Unit by Hindustan Petroleum Corporation Ltd.

July 20, 2018

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jul. 20, 2018-- TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a substantial(1) contract by the state-owned Hindustan Petroleum Corporation Ltd. (HPCL) for a grassroot Hydrogen Generation Unit (HGU). The project is part of the brownfield expansion for HPCL’s Visakh Refinery Modernization Project located in Visakhapatnam, in the state of Andhra Pradesh in India.

The contract covers project management, technology licensing, preparation of basic design and engineering package, as well as detailed engineering, procurement, construction, commissioning, and performance guarantee test run on an LEPCC* basis.

This HGU is being installed to cater to the needs of HPCL Visakh refinery to enhance its refining capacity from 8.33 MMTPA** to 15 MMTPA. TechnipFMC’s scope includes an HGU comprising two trains with a design capacity of 113 KTPA*** each and a Pressure Swing Adsorption Unit of 36 KTPA hydrogen production.

TechnipFMC advanced the application of its proprietary steam reforming technology beyond the conventional fired reformer by adding its TechnipFMC Parallel Reformer (TPR®), a convective, high temperature heat exchange reformer. This combination reduces overall firing demand by taking high temperature heat from the effluent of the conventional reformer to supply heat needed for the TPR. In addition, the design includes a power generation unit that utilizes excess steam, making the plant electrically self-sufficient.

Nello Uccelletti, President of the Onshore/Offshore business at TechnipFMC, commented: “Our proprietary steam reforming and TPR technologies were key differentiators in this award. By maximizing energy efficiency, lowering feed consumption, reducing power import and minimizing emissions, these technologies will enable us to provide HPCL with a self-sufficient HGU which is one of a kind in the industry.”

TechnipFMC previously executed two HGUs for HPCL and has a strong presence in India. The company is a global leader in the design and supply of hydrogen plants, with more than 270 built worldwide.

*LEPCC – Licensing, Engineering, Procurement, Construction and Commissioning

**MMTPA – Million Metric Tonnes Per Annum

***KTPA – Kilo Tonnes Per Annum

(1)For TechnipFMC, a “substantial” contract is ranging from $250 to $500 million.

Note: this inbound order was included in the company’s second quarter results.


Important Information for Investors and Securityholders

Forward-Looking Statement

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 “scheduled,” “estimated,” “aimed” 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. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and Hindustan Petroleum Corporation Ltd’s acceptance of, the various onshore products ordered. For additional 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 Registration Statement on Form S-4, 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.


About TechnipFMC

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.


Source: TechnipFMC

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