TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract by Equinor

Rhea-AI Summary

TechnipFMC (NYSE: FTI) has secured an integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract for Equinor’s Smørbukk Nord development. This contract includes a high-pressure, high-temperature subsea production system for the Åsgard field in Norway, where the company has an established presence. The project follows design work completed in 2021 and will employ TechnipFMC’s battery hybrid vessel to decrease greenhouse gas emissions. This contract is expected to enhance the company's operational portfolio in subsea engineering.

Positive

• Awarded iEPCI™ contract for Equinor’s Smørbukk Nord development.
• Involves high-pressure subsea production system in the Norwegian Continental Shelf.
• Utilization of battery hybrid vessel to reduce greenhouse gas emissions.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract⁽¹⁾ for Equinor’s Smørbukk Nord development.

The contract covers a high-pressure, high-temperature subsea production system and associated equipment for a brownfield tieback in the Åsgard field in the Norwegian Continental Shelf, where TechnipFMC has a large installed base. The award follows front end engineering and design work on the project in 2021.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Our ability to deliver this optimized solution for Equinor is possible due to our close collaboration with the client, portfolio of subsea equipment, and integrated execution model. We’re delighted to be once again delivering an iEPCI™ project for Equinor.”

The installation campaign will use TechnipFMC’s battery hybrid vessel, which will reduce greenhouse gas emissions through reduced fuel consumption.

⁽¹⁾The contract award was included in Q4 2021 inbound orders.

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/20220113005105/en/

Investor relations

Matt Seinsheimer

Vice President, Investor Relations

Tel: +1 281 260 3665

Email: Matt Seinsheimer

James Davis

Senior Manager, Investor Relations

Tel: +1 281 260 3665

Email: James Davis

Media relations

Nicola Cameron

Vice President, Corporate Communications

Tel: +44 1383 742297

Email: Nicola Cameron

Catie Tuley

Director, Public Relations

Tel: +1 713 876 7296

Email: Catie Tuley

Source: TechnipFMC plc