Press release | October 19 2020
TechnipFMC Awarded a Significant EPCI Contract for the Equinor Breidablikk Pipelay and Subsea Installation
LONDON, PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a significant(1) Engineering, Procurement, Construction and Installation contract by Equinor for the Breidablikk Pipelay, including option for the Subsea Installation scope located in the area close to the Grane Field, North Sea.
The Breidablikk project is a tie-back to the existing Grane platform. TechnipFMC’s scope includes provision of flexible jumpers and rigid pipelines as well as pipeline installation work.
Jonathan Landes, President Subsea at TechnipFMC, commented: “We have collaborated closely with Equinor in order to optimize the solutions and methodology for the pipelay installation. We are honored to once again be selected by Equinor to create value with our products and services offering.”
The Breidablikk development is subject to final approval by the Norwegian authorities.
(1) For TechnipFMC, a “significant” contract ranges between $75 million and $250 million.
Note: this inbound order was included in the Company’s first half financial results.
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 the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.
Organized in three business segments — Subsea, Surface Technologies and Technip Energies — 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 customers in developing their energy resources and in their positioning to meet the energy transition challenge.
Each of our approximately 37,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Source: TechnipFMC plc
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