Press release | January 9, 2019
TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for the BP Atlantis Phase 3 Project in the Gulf of Mexico
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Atlantis Phase 3 project.
Following final investment decisions from all partners, TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and subsea tree jumpers, pipeline end terminations, subsea distribution and topside control equipment.
This contract also includes provisional services for tooling and personnel required to install the hardware.
Arnaud Pieton, President Subsea, commented: “We are very pleased TechnipFMC has been awarded an iEPCI™ contract for the Phase 3 development of the BP Atlantis project. This award reinforces TechnipFMC’s position as the market and technology leader for subsea equipment and demonstrates the added value of iEPCI™ - our unique integrated offering. We look forward to extending our successful relationship with BP on the Atlantis project in the Gulf of Mexico.”
The Atlantis Phase 3 field is located approximately 150 miles south of New Orleans at a water depth of roughly 2,100 meters (6,800 feet) and will be tied back to the existing platform.
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
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 “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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