Press release | March 26 2018
TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for LLOG Exploration in the Gulf of Mexico
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCITM) contract by LLOG Exploration. This award for the Who Dat field in the Gulf of Mexico includes the delivery and installation of a Multiphase Pumping System, including a manifold, umbilical termination assembly, power umbilical, jumper and topside control equipment, and demonstrates the unique breadth of TechnipFMC’s iEPCITM offering. The new contract builds on the existing 10 plus year Alliance relationship between LLOG Exploration and TechnipFMC.
The 2MW 10ksi Multiphase Pump Station is optimized for the high gas content in the field. The station leverages field-proven pump hydraulics with TechnipFMC’s advanced high-speed permanent magnetic motor technology and subsea system design, providing operational flexibility in subsea boosting.
“This award demonstrates our clear leadership position in iEPCI TM and we are honored that LLOG Exploration is embracing this new business model. We are excited to leverage on our integration and processing expertise to bring our Multiphase Pumping System to maximize production from the field, creating added value for our client”, said Hallvard Hasselknippe, President of TechnipFMC’s Subsea business.
LLOG Exploration Who Dat field is located in the Mississippi Canyon blocks of the Gulf of Mexico in 945 meters of water. First production of the field was achieved in December 2011.
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 “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 LLOG Exploration’s acceptance of, the various iEPCITM 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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