LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--May 31, 2018-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a subsea contract by CNOOC Limited for the Liuhua 16-2, 20-2 and 21-2 Oilfield Joint Development Project in the South China Sea, at water depths ranging from 380 to 430 meters.
The contract covers the Engineering, Procurement and Construction of subsea equipment, including 26 units of Enhanced Horizontal Christmas Trees (EHXT) as well as Wellheads, Subsea Control Systems, Manifolds, Tie-In Systems and Intervention Workover Control Systems (IWOCS). This contract also covers support services for the installation and commissioning, as well as the provision of a local services support base in China.
Hallvard Hasselknippe, President of TechnipFMC’s Subsea business, commented: “We are proud and honored to be selected by CNOOC Limited for this contract, which is one of the largest subsea production systems contracts awarded this year in our industry. This award showcases TechnipFMC’s position as the market and technology leader for subsea equipment and services globally. We will continue our long-term, collaborative relationship with CNOOC Limited and we are committed to execution excellence through the successful long-term development of the project in China.”
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 “estimated”, “aimed”, “scheduled” and 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 CNOOC Limited’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.
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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