TechnipFMC Awarded Major iEPCI™ Contract for Shell’s Gato do Mato Development Offshore Brazil
TechnipFMC (NYSE: FTI) has secured a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Shell for the Gato do Mato greenfield development offshore Brazil. The contract value exceeds $1 billion and will be included in inbound orders in Q1 2025.
The project will implement TechnipFMC's Subsea 2.0® configure-to-order (CTO) subsea production systems, combining integrated execution to streamline project management and accelerate time to first oil through a single interface. This award builds upon a 30-year partnership between TechnipFMC and Shell, highlighting their strong delivery record in subsea solutions.
TechnipFMC (NYSE: FTI) ha ottenuto un importante contratto integrato di Ingegneria, Approvvigionamento, Costruzione e Installazione (iEPCI™) da Shell per lo sviluppo greenfield di Gato do Mato al largo del Brasile. Il valore del contratto supera 1 miliardo di dollari e sarà incluso negli ordini in entrata nel primo trimestre del 2025.
Il progetto implementerà i sistemi di produzione sottomarina Subsea 2.0® di TechnipFMC, configurati su ordinazione (CTO), combinando l'esecuzione integrata per semplificare la gestione del progetto e accelerare il tempo fino al primo petrolio attraverso un'unica interfaccia. Questo riconoscimento si basa su una partnership di 30 anni tra TechnipFMC e Shell, evidenziando il loro solido record di consegna nelle soluzioni sottomarine.
TechnipFMC (NYSE: FTI) ha asegurado un importante contrato integrado de Ingeniería, Adquisiciones, Construcción e Instalación (iEPCI™) de Shell para el desarrollo greenfield de Gato do Mato frente a la costa de Brasil. El valor del contrato supera 1 mil millones de dólares y se incluirá en los pedidos entrantes en el primer trimestre de 2025.
El proyecto implementará los sistemas de producción submarina Subsea 2.0® de TechnipFMC, configurados por encargo (CTO), combinando la ejecución integrada para agilizar la gestión del proyecto y acelerar el tiempo hasta el primer petróleo a través de una única interfaz. Este premio se basa en una asociación de 30 años entre TechnipFMC y Shell, destacando su sólido historial en soluciones submarinas.
TechnipFMC (NYSE: FTI)는 브라질 해안의 Gato do Mato 그린필드 개발을 위해 Shell로부터 주요 통합 엔지니어링, 조달, 건설 및 설치(iEPCI™) 계약을 체결했습니다. 계약 금액은 10억 달러 이상이며, 2025년 1분기 수주에 포함될 예정입니다.
이 프로젝트는 TechnipFMC의 주문형(CTO) 해양 생산 시스템인 Subsea 2.0®을 구현하여 프로젝트 관리를 간소화하고 단일 인터페이스를 통해 첫 번째 석유 생산까지의 시간을 단축합니다. 이 수상은 TechnipFMC와 Shell 간의 30년 파트너십을 기반으로 하며, 해양 솔루션에서의 강력한 성과 기록을 강조합니다.
TechnipFMC (NYSE: FTI) a obtenu un important contrat intégré d'Ingénierie, d'Approvisionnement, de Construction et d'Installation (iEPCI™) de Shell pour le développement greenfield de Gato do Mato au large du Brésil. La valeur du contrat dépasse 1 milliard de dollars et sera incluse dans les commandes entrantes au premier trimestre 2025.
Le projet mettra en œuvre les systèmes de production sous-marine Subsea 2.0® de TechnipFMC, configurés sur commande (CTO), combinant une exécution intégrée pour rationaliser la gestion de projet et accélérer le temps jusqu'au premier pétrole via une interface unique. Cette récompense repose sur un partenariat de 30 ans entre TechnipFMC et Shell, mettant en avant leur solide bilan de livraison dans les solutions sous-marines.
TechnipFMC (NYSE: FTI) hat einen wichtigen integrierten Vertrag für Engineering, Beschaffung, Bau und Installation (iEPCI™) von Shell für die Entwicklung des Gato do Mato-Greenfield vor der Küste Brasiliens gesichert. Der Vertragswert übersteigt 1 Milliarde Dollar und wird im ersten Quartal 2025 in die eingehenden Bestellungen aufgenommen.
Das Projekt wird die konfigurierbaren (CTO) Unterwasserproduktionssysteme Subsea 2.0® von TechnipFMC implementieren, die eine integrierte Ausführung kombinieren, um das Projektmanagement zu optimieren und die Zeit bis zur ersten Ölförderung über eine einzige Schnittstelle zu beschleunigen. Diese Auszeichnung baut auf einer 30-jährigen Partnerschaft zwischen TechnipFMC und Shell auf und hebt deren starke Erfolgsbilanz im Bereich der Unterwasserlösungen hervor.
- Secured major contract worth over $1 billion
- Contract adds to order backlog in Q1 2025
- Leverages established 30-year partnership with Shell
- Implementation of proprietary Subsea 2.0® technology
- Project execution and revenue recognition delayed until 2025
Insights
TechnipFMC's $1+ billion contract win from Shell represents a substantial financial catalyst, equating to approximately 8% of the company's current $12.6 billion market capitalization. This major award strengthens TechnipFMC's order backlog and enhances revenue visibility into the coming years.
The integrated Engineering, Procurement, Construction, and Installation (iEPCI) approach typically generates superior margins compared to standalone service offerings. By combining design, manufacturing, and installation under one contract, TechnipFMC can optimize project execution while capturing value across the entire subsea development lifecycle.
Notably, this contract will be included in Q1 2025 inbound orders, providing an immediate boost to key performance metrics that investors closely monitor. The greenfield nature of the Gato do Mato development suggests a comprehensive scope of work rather than incremental additions to existing infrastructure.
The announcement reinforces TechnipFMC's strong competitive positioning in the offshore energy market, particularly in Brazil's strategic deepwater sector. The company's 30-year relationship with Shell demonstrates client satisfaction and the technical expertise necessary to secure repeat business from major operators—a crucial advantage in the competitive subsea segment.
The technological components of this contract highlight TechnipFMC's competitive edge in the subsea sector. Their Subsea 2.0® configure-to-order systems represent a significant advancement in standardized subsea architecture that reduces complexity, installation time, and overall project costs.
By combining their proprietary Subsea 2.0® technology with the integrated iEPCI™ execution model, TechnipFMC offers Shell a streamlined development solution with fewer interfaces and reduced project risk. The company's explicit mention of accelerating "time to first oil" underscores the economic benefit to Shell—earlier production means faster return on investment for the operator.
The Gato do Mato development offshore Brazil represents another strategic award in a key growth region for subsea developments. Brazil continues to be a focal point for major offshore investments, with national energy policies supporting deepwater development.
For TechnipFMC, winning contracts that leverage both their integrated execution model and advanced subsea technology suite validates their strategic direction and reinforces their market leadership. The company's ability to secure another major project with Shell indicates that their technological solutions are resonating with top-tier clients who have multiple contractor options for their most significant developments.
In addition to integrated execution, the project will utilize Subsea 2.0® configure-to-order (CTO) subsea production systems. Combining both offerings will enable streamlined project management through a single interface and accelerate time to first oil.
Jonathan
(1) For TechnipFMC, a “major” contract is greater than
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, including our assumptions and projections regarding the expected benefits of the awarded contract, 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 21,000 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 X @TechnipFMC.
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FAQ
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