TechnipFMC Awarded Large EPCI Contract by Petrobras for Búzios 6 Field

Rhea-AI Summary

TechnipFMC has secured a large subsea EPCI contract from Petrobras for the Búzios 6 field, valued between $500 million and $1 billion. This greenfield project will include the supply of flexible and rigid pipes, umbilicals, and more, with manufacturing primarily in Brazil. The award highlights TechnipFMC's robust relationship with Petrobras and the ongoing strength of the Brazilian subsea market. The project emphasizes local supply chain utilization and aims to minimize the carbon footprint.

Positive

• Awarded a subsea EPCI contract valued between $500 million and $1 billion.
• Manufacturing will be predominantly in Brazil, showcasing local capability and minimizing transport emissions.
• Strengthens collaborative relationship with Petrobras, indicating positive market positioning in Brazil.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large⁽¹⁾ subsea Engineering, Procurement, Construction and Installation (EPCI) contract by Petrobras for its Búzios 6 field (module 7), a greenfield development in the pre-salt area.

The contract covers flexible and rigid pipe, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies and a mooring system.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited to announce this award, which demonstrates the continuing strength of the subsea market in Brazil and our collaborative relationship with Petrobras. We used our deep understanding of the client’s needs to arrive at technological solutions developed specifically for the Búzios 6 field.”

The flexible pipe, umbilicals and subsea structures, as well as some of the rigid pipe, will be manufactured in Brazil using skills and competencies the Company has developed in-country, while minimizing the carbon footprint associated with transportation and installation. The project will also utilize our established and qualified Brazilian supply chain.

⁽¹⁾ For TechnipFMC, a “large” contract is between $500 million and $1 billion.

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 “expect,” “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/20220124005594/en/

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Media relations

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Source: TechnipFMC plc

FAQ

What is the value of the subsea contract awarded to TechnipFMC by Petrobras?

The subsea contract is valued between $500 million and $1 billion.

What does the EPCI contract for Búzios 6 include?

The contract includes flexible and rigid pipes, umbilicals, pipeline end terminals, and a mooring system.

Where will the manufacturing for the TechnipFMC contract take place?

Manufacturing will take place primarily in Brazil.

What does this contract award indicate about TechnipFMC's relationship with Petrobras?

The contract underscores a collaborative relationship and the strength of the subsea market in Brazil.