LONDON, PARIS & HOUSTON--(BUSINESS WIRE)--Jul. 1, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded significant(1) subsea contracts by Reliance Industries Limited for the MJ1 field located in deep water offshore India in the Krishna Godavari basin.
These contracts cover the fabrication and installation of flexible risers, rigid and flexible flowlines and umbilicals.
Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are very honored to be associated with this prestigious natural gas project leading to further value creation. These awards confirm the trust we have built over the long term with Reliance along the oil and gas value chain, reflecting both our commitment to the Indian market and our leadership in the energy transition domain, through subsea gas projects.”
The MJ1 field is operated by Reliance Industries. This high-pressure high-temperature gas field is located in water depths ranging between 1,000 and 1,200 meters and will be connected to a new Floating Production Storage and Offloading facility.
(1)For TechnipFMC, a “significant” contract is between $75 million and $250 million; the total value of all contracts is also within this range.
Note: this inbound order was included in the Company’s second quarter financial results.
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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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