TechnipFMC Awarded a Significant Subsea Contract for Petrobras’ Marlim and Voador Fields

Rhea-AI Summary

TechnipFMC (NYSE: FTI) has secured a major subsea contract with Petrobras for the Marlim and Voador fields offshore Brazil. The contract involves supplying up to eight manifolds utilizing the innovative all-electric Robotic Valve Controller (RVC). This technology enhances efficiency by replacing traditional hydraulics, reducing costs, and minimizing environmental impact. The contract value falls between $75 million and $250 million, and it has already been included in the company’s first-quarter financials.

Positive

• Awarded a significant subsea contract with Petrobras valued between $75 million and $250 million.
• Utilizing innovative all-electric Robotic Valve Controller (RVC) technology, enhancing operational efficiency.
• RVC reduces costs and carbon footprint, contributing to sustainability efforts.

Negative

• None.

TechnipFMC (NYSE: FTI) (PARIS: FTI) today announced that it has been awarded a significant⁽¹⁾ subsea contract from Petrobras (NYSE: PBR) for the Marlim and Voador fields, located offshore Brazil.

TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes associated tools, spares and services.

The RVC is a unique robotic technology that replaces traditional subsea hydraulics, as well as thousands of mechanical parts, while providing real-time data and analysis on system performance. This results in a manifold that is smaller, less complex and less costly with a significantly reduced carbon footprint. Moreover, the RVC’s software can be remotely upgraded and maintained subsea, increasing the overall reliability and availability of the subsea system.

Jonathan Landes, President Subsea at TechnipFMC, commented: “We are honored that Petrobras has selected us to support the ongoing development of the Marlim and Voador fields. We look forward to executing this project using our local capabilities in Brazil and contributing to another important development in the country.

“We are very excited to bring new technology and automation capabilities to this project through the use of the RVC to operate the manifolds. Our innovations in automation and electrification are helping our clients lower their operational expenditures and reduce the carbon intensity of their subsea projects.”

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.

Note: this inbound order was included in the Company’s first quarter financial results.

Important Information for Investors and Securityholders

Forward-Looking Statement

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.

About TechnipFMC

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.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210420006067/en/

FAQ

What is the contract value awarded to TechnipFMC by Petrobras?

The contract value awarded to TechnipFMC by Petrobras ranges from $75 million to $250 million.

What technology will TechnipFMC use for the subsea contract with Petrobras?

TechnipFMC will use the all-electric Robotic Valve Controller (RVC) for the subsea contract with Petrobras.

Which fields are included in the subsea contract awarded to TechnipFMC?

The subsea contract awarded to TechnipFMC includes the Marlim and Voador fields.

How does the RVC technology benefit TechnipFMC's operations?

The RVC technology reduces complexity and costs, while also providing real-time data and minimizing environmental impact.

When will the contract awarded to TechnipFMC be reflected in the financial results?

The inbound order from Petrobras has already been included in TechnipFMC's first-quarter financial results.