TechnipFMC Awarded Significant Contract for Gas to Energy Project in Guyana

Rhea-AI Summary

TechnipFMC (NYSE: FTI) has secured a notable contract from ExxonMobil's Esso Exploration and Production Guyana Limited for the Gas to Energy Project in Guyana. The contract includes engineering, procurement, construction, and installation of subsea infrastructure. This project aims to connect production from the Liza Destiny and Unity fields to a gas-fired power plant, enhancing local electricity supply. TechnipFMC employs over 85 Guyanese and plans to expand its local workforce in support of this initiative.

Positive

• Awarded a significant contract valued between $75 million and $250 million.
• Involvement in the Gas to Energy Project enhances TechnipFMC's portfolio in the growing Guyana market.
• Commitment to local employment and training, contributing positively to community development.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded a significant⁽¹⁾ contract by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, for the Gas to Energy Project in Guyana.

Subject to final project sanction, TechnipFMC will provide engineering, procurement, construction and installation of subsea risers and pipelines. The project will connect the production from Liza Destiny and Unity back to shore, delivering associated gas from the field to a gas-fired power plant that will supply electricity to the community.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “The Gas to Energy Project is another example of how we are helping deliver the energy the world needs, and we are thrilled to be supporting another project in Guyana. We remain proud of our dedicated Guyanese employees and are committed to the continued development and expansion of local capabilities.”

TechnipFMC currently employs more than 85 Guyanese, and expects to continue to hire and train additional local staff in support of this award.

⁽¹⁾For TechnipFMC, a “significant” contract is between $75 million and $250 million; the full contract award will not be included in inbound orders until the project receives final investment decision and government approvals.

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.

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Source: TechnipFMC plc

FAQ

What contract has TechnipFMC recently secured in Guyana?

TechnipFMC has secured a significant contract from Esso Exploration and Production Guyana Limited for the Gas to Energy Project.

What is the value range of the contract awarded to TechnipFMC?

The contract awarded to TechnipFMC is valued between $75 million and $250 million.

What services will TechnipFMC provide for the Gas to Energy Project?

TechnipFMC will provide engineering, procurement, construction, and installation of subsea risers and pipelines for the project.

How does the Gas to Energy Project impact the local community?

The project aims to supply electricity to the community via a gas-fired power plant, enhancing local energy access.

How many Guyanese employees does TechnipFMC currently have?

TechnipFMC currently employs over 85 Guyanese and plans to hire more in support of the Gas to Energy Project.