Press release | March 1, 2019
TechnipFMC Awarded a Large EPCIC Contract for BP Greater Tortue Ahmeyim Development FPSO
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded by BP a large(1) contract for the engineering, procurement, construction, installation and commissioning (EPCIC) of the floating production storage and offloading (FPSO) unit to be deployed offshore on the maritime border of Mauritania and Senegal. This award is a continuation to the FEED (front end engineering design) contract awarded in April 2018.
TechnipFMC will bring its expertise to deliver major projects, leveraging extensive experience with fabrication yards and from successful references for delivery of offshore gas monetization facilities such as Floating Liquid Natural Gas (FLNG), FPSO and conventional platforms .
Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, commented: “We are honored to be entrusted with the execution of this prestigious contract in West Africa which is a testimonial to our long-term partnership with BP and our leadership in the Gas Monetization industry. This award is one of our strategic “early engagement” achievements, following the successful completion by TechnipFMC of the FEED study. We look forward to collaborating with BP to unlock the full potential of this important project”.
The initial subsea infrastructure connects the first four wells consolidated through production pipelines leading to this FPSO. From here liquids are removed and the export gas is transported via a pipeline to the LNG hub terminal where the gas is liquefied.
(1) For TechnipFMC, a “large” contract ranges between $500 million and $1 billion.
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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