TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC (NYSE: FTI) plans to acquire the remaining 49% of shares in TIOS AS, enhancing its integrated service model. This strategic move aims to boost TechnipFMC’s capabilities in delivering Riserless Light Well Intervention (RLWI) services globally. TIOS, operational since 2005, has successfully serviced over 740 wells. The company will continue its partnership with Island Offshore for vessel provisions. Jonathan Landes, President of Subsea, emphasized the acquisition's potential to improve service delivery to clients.

TechnipFMC plc (NYSE:FTI) has announced the placement of 16 million shares of Technip Energies, representing approximately 9% of its issued and outstanding share capital. This private placement targets eligible institutional investors and is not open to the public. After the placement, TechnipFMC will retain about 22% of Technip Energies' shares and will adhere to a 60-day lock-up period for its remaining shares. The final terms will be disclosed by July 30, 2021, with settlement expected around August 3, 2021.

TechnipFMC plc (NYSE: FTI) reported Q2 2021 results, with total revenue of $1,668.8 million, reflecting a 2.3% sequential increase. However, the company incurred a loss of $174.7 million. Adjusted EBITDA was $144.3 million, a 12.7% decline from the previous quarter, with a margin of 8.6%. Inbound orders decreased by 9.4% sequentially to $1,559.5 million, while backlog increased to $7,312 million. The company has raised its full-year revenue guidance for Subsea from $5.0-5.4 billion to $5.2-5.5 billion.

EDP and TechnipFMC (NYSE: FTI) have announced a collaboration to develop the BEHYOND project, focusing on a feasibility study for offshore hydrogen production utilizing wind power. This initiative aims to standardize large-scale hydrogen production and strengthen partnerships across the energy sector. The project, supported by the European Economic Area Financial Mechanism, will enhance Portugal's competitiveness in the blue economy. EDP will lead key phases, tapping into its offshore wind expertise, and aim to contribute significantly to the global decarbonization efforts through renewable hydrogen technology.

TechnipFMC (NYSE:FTI) and Halliburton (NYSE:HAL) received the OTC Spotlight on New Technology Award for their Odassea^TM Subsea Fiber Optic Solution, chosen by ExxonMobil for the Payara development project in Guyana. This advanced sensing system enhances reservoir insights and aims to reduce ownership costs. The Payara project, located 200 kilometers offshore in deep waters, holds approximately 9 billion oil-equivalent barrels. Both companies are also implementing Odassea solutions across various subsea projects.

TechnipFMC (NYSE:FTI) and Halliburton (NYSE:HAL) have received the OTC Spotlight on New Technology Award for their Odassea™ Subsea Fiber Optic Solution, chosen for ExxonMobil’s Payara development project in Guyana. This innovative system integrates hardware and digital solutions to improve subsea monitoring and production efficiency. The Payara site, located 200 kilometers offshore at a depth of 1,800 meters, is estimated to contain around 9 billion recoverable oil-equivalent barrels. The collaboration aims to enhance reservoir insights while reducing costs for operators.

TechnipFMC (NYSE: FTI) has secured a significant iEPCI™ contract for the Jubilee South East development offshore Ghana, marking its first project with Tullow Ghana Ltd. This contract, valued between $75 million and $250 million, includes the supply and installation of major subsea equipment. TechnipFMC utilized its Subsea Studio™ digital solutions for optimization and aims to enhance local content through in-country fabrication of subsea structures. This project underscores the company's commitment to innovation, collaboration, and reducing emissions in energy projects.

TechnipFMC (NYSE: FTI) has secured a significant Engineering, Procurement, Construction and Installation contract from Equinor for the Kristin Sør field in the North Sea. This $75 million to $250 million contract involves supplying rigid pipelines and umbilicals, as well as installation services for subsea production facilities. The project will utilize TechnipFMC's hybrid battery-equipped Deep Arctic. Execution will be handled from its Oslo center, with fabrication taking place in Norway and the UK.

TechnipFMC (NYSE: FTI) has secured a significant subsea contract from Petrobras for the Búzios 6-9 fields in Brazil's Santos basin, at a water depth of 2,000 meters. This contract involves supplying subsea trees, controls, and installation support services, with delivery expected in Q1 2023. The agreement highlights TechnipFMC's commitment to sustainability, with all subsea trees manufactured using renewable energy in Brazil. Notably, this contract follows the successful delivery of 700 trees, emphasizing ongoing local content and workforce involvement.