LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Mar. 26, 2018-- TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded an iEPCI™ (integrated Engineering, Procurement, Construction and Installation) contract by Energean Oil & Gas for the Karish full field development, located offshore Israel at a water depth of 1,750 meters. This award extends our iEPCI™ offering from seabed to offshore producing facility.
The execution of this iEPCI™ contract covers the design, procurement, construction and installation of the complete subsea system, a Floating Production Storage and Offloading unit (FPSO) designed to allow the subsequent tie-back of the Tanin field, the pipeline system, and the onshore pipeline and valve station at the receiving station.
Hallvard Hasselknippe, President of TechnipFMC’s Subsea business, stated: “This award demonstrates our leadership position in iEPCI™. It also highlights our unique ability to combine a fully integrated field development encompassing both the entire subsea and FPSO scope. Our strong value proposition builds on early involvement and integrated solutions. By simplifying subsea field architecture, we help our clients significantly improve their project economics. We are honored that Energean Oil & Gas has embraced this new way of doing business, engaging with us early through an integrated FEED (iFEED™) study and directly awarding the full project scope through an integrated EPCI (iEPCI™) model.”
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 “scheduled,” “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. 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 Energean Oil & Gas’ acceptance of, the various iEPCI™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.
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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