LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Apr. 25, 2017-- TechnipFMC (Paris:FTI)(NYSE:FTI)(ISIN:GB00BDSFG982) has been awarded a contract by an affiliate of ExxonMobil Corporation (NYSE:XOM) for the engineering, manufacture and delivery of the subsea equipment for the proposed Liza deep water project.
The award scope includes seventeen total enhanced vertical deep water trees and associated tooling, as well as five manifolds and associated controls and tie-in equipment.
“We are pleased that ExxonMobil has selected TechnipFMC for the Liza subsea equipment. We value our long-term, collaborative relationship with ExxonMobil and we are committed to execution excellence and the successful long-term development of the project in Guyana,” said Hallvard Hasselknipe, President Subsea Projects, TechnipFMC.
Liza, operated by an ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is located in the Stabroek block approximately 193 km (120 miles) offshore Guyana in waters depths of 1,500 m (4,900 ft) to 1,900 m (6,200 ft). This greenfield development has an estimated recovery in excess of 1 billion oil-equivalent barrels.
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 40,000 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.
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. Words such as “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 ExxonMobil’s acceptance of, the subsea 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.
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