TechnipFMC Awarded Significant Contract by TotalEnergies EP Angola for Girassol Life Extension (GIRLIFEX) Project

Rhea-AI Summary

TechnipFMC (NYSE: FTI) has secured a significant contract to provide flexible pipe and hardware for TotalEnergies EP Angola's Girassol Life Extension project offshore Angola. This project aims to enhance the Girassol field's lifespan by circumventing existing rigid pipe bundles. The contract involves engineering, procurement, and supply of flowlines and connectors, valued between $75 million and $250 million. This award reflects the trust built with clients and showcases TechnipFMC's technological capabilities. TotalEnergies' continued confidence illustrates a strong partnership in future projects.

Positive

• Awarded a contract valued between $75 million and $250 million for Girassol Life Extension project.
• Expanded partnership with TotalEnergies EP Angola demonstrates client trust.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded a significant⁽¹⁾ contract to supply flexible pipe and associated hardware for the first subsea life extension project by TotalEnergies EP Angola and its Block 17 Partners in West Africa.

The contract covers the engineering, procurement, and supply of flowlines and connectors for the Girassol Life Extension project (GIRLIFEX), offshore Angola. The flexible pipes will extend the life of the Girassol field by bypassing the rigid pipe bundles installed before production began in 2001.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Awards like GIRLIFEX are a result of the trust we have built up with our long-term clients and partners by continually delivering for them. We are delighted that TotalEnergies EP Angola is showing continued confidence in our technologies and integration capabilities.”

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million. This award was included in inbound orders in the fourth quarter of 2022.

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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.

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FAQ

What is the contract value that TechnipFMC received for the Girassol project?

The contract value for the Girassol Life Extension project is between $75 million and $250 million.

What is the purpose of the Girassol Life Extension project?

The Girassol Life Extension project aims to extend the life of the Girassol field by bypassing existing rigid pipe bundles.

Who awarded the contract to TechnipFMC?

The contract was awarded by TotalEnergies EP Angola and its Block 17 Partners.

What company does the stock symbol 'FTI' represent?

The stock symbol 'FTI' represents TechnipFMC.