Press release | June 29 2021
TechnipFMC Awarded a Substantial Subsea Contract for Petrobras’ Búzios 6-9 Fields
LONDON & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) announced today that it has been awarded a substantial(1) subsea contract by Petrobras for the Búzios 6-9 fields. Located in the Santos basin offshore Brazil, these fields are part of the pre-salt area, with a water depth of 2,000 meters.
TechnipFMC will supply subsea trees with controls, electrical and hydraulic distribution units, topside systems, and installation and intervention support services with rental tooling. Delivery is expected to begin in the first quarter of 2023.
Jonathan Landes, President, Subsea, at TechnipFMC, commented, “The Búzios 6-9 fields are major developments in Brazil, and we are very honored to support Petrobras in this subsea project, which further strengthens our long-term partnership. This contract demonstrates TechnipFMC’s unique ability to deliver comprehensive solutions that meet clients’ needs and leverages our expertise in the pre-salt field.
“Sustainability will be at the core of our project delivery. All of the subsea trees will be manufactured at our facilities in Brazil, which are powered entirely from renewable energy sources.
“This contract arrives only weeks after achieving our recent milestone of manufacturing and delivering 700 trees in-country – a further testament to our long-term commitment in Brazil, where local content makes up over 97 percent of our workforce.”
TechnipFMC’s demonstrated history of project and technology delivery for Petrobras helped solidify the Lean manufacturing methodologies employed at its Rio Manufacturing Hub, improving safety and quality, while reducing waste and costs.
(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 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 “expect”, “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 leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
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Source: TechnipFMC plc