Press release | July 17 2018
TechnipFMC awarded a master services agreement by Petrobras in Brazil
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) has been awarded by Petróleo Brasileiro S.A. (Petrobras) a 3-year master services agreement in Brazil, with a 2-year renewal option. This contract for subsea services covers components for both the subsea equipment and flexible pipelines.
The scope of work includes maintenance services, technical assistance, inspection and end-fitting re-termination(1) of flexible pipes and umbilicals, installation support and engineering analysis of operations and installation conditions, among other services.
Hallvard Hasselknippe, President of TechnipFMC’s Subsea business, stated: “We are extremely pleased to have won this important services agreement. It reinforces our long-term commitment to Petrobras’ ongoing and future operations. We value our long-term, collaborative relationship with Petrobras which we will continue to strengthen through strong execution with high focus on safety, quality and efficiency”.
(1) re-termination: end-fitting service – cut and re-assembly of the top part of the flexible pipe in order to repair
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 Petrobras’s acceptance of, the 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.
Matt Seinsheimer, +1-281-260-3665
Vice President Investor Relations
Phillip Lindsay, +44 203 429 3929
Director Investor Relations Europe
Christophe Belorgeot, +33 1 47 78 39 92
Vice President Corporate Communications
Delphine Nayral, +33 1 47 78 34 83
Senior Manager Public Relations