TechnipFMC Awarded Substantial Flexible Pipe Contract by Petrobras
TechnipFMC (NYSE: FTI) has secured a substantial contract from Petrobras for the supply of flexible pipe for pre-salt fields offshore Brazil. The contract, valued between $250 million and $500 million, covers the design, engineering, and manufacture of flexible pipe for water injection and gas lift. This award was included in TechnipFMC's inbound orders for the second quarter of 2024.
Jonathan Landes, President of Subsea at TechnipFMC, emphasized the company's pride in the trust built with Petrobras over decades and highlighted that their core technologies will support Petrobras's ambitions. TechnipFMC plans to leverage its global manufacturing capabilities to assist in the ongoing development of pre-salt reserves.
TechnipFMC (NYSE: FTI) ha ottenuto un contratto significativo da Petrobras per la fornitura di tubazioni flessibili per i campi pre-salino al largo del Brasile. Il contratto, del valore compreso tra 250 milioni e 500 milioni di dollari, prevede la progettazione, ingegneria e produzione di tubazioni flessibili per iniezione d'acqua e sollevamento del gas. Questo incarico è stato incluso negli ordini in entrata di TechnipFMC per il secondo trimestre del 2024.
Jonathan Landes, Presidente della divisione Subsea di TechnipFMC, ha sottolineato l'orgoglio dell'azienda per la fiducia costruita con Petrobras nel corso dei decenni e ha evidenziato come le loro tecnologie principali supporteranno le ambizioni di Petrobras. TechnipFMC prevede di sfruttare le proprie capacità di produzione globali per assistere nello sviluppo delle riserve pre-saline in corso.
TechnipFMC (NYSE: FTI) ha asegurado un contrato importante con Petrobras para el suministro de tuberías flexibles para los campos pre-sal en alta mar en Brasil. El contrato, valorado entre 250 millones y 500 millones de dólares, cubre el diseño, la ingeniería y la fabricación de tuberías flexibles para inyección de agua y levantamiento de gas. Este premio se incluyó en los pedidos entrantes de TechnipFMC para el segundo trimestre de 2024.
Jonathan Landes, Presidente de Subsea en TechnipFMC, enfatizó el orgullo de la empresa por la confianza construida con Petrobras a lo largo de las décadas y destacó que sus principales tecnologías apoyarán las ambiciones de Petrobras. TechnipFMC planea aprovechar sus capacidades de fabricación globales para ayudar en el desarrollo continuo de las reservas pre-sal.
TechnipFMC (NYSE: FTI)가 브라질 해상 사유층 유전지를 위한 유연한 파이프 공급을 위해 Petrobras와 상당한 계약을 체결했습니다. 이 계약은 2억 5천만 달러에서 5억 달러 사이의 가치가 있으며, 물 주입과 가스 리프트를 위한 유연한 파이프의 설계, 엔지니어링 및 제조를 포함합니다. 이 수주는 TechnipFMC의 2024년 2분기 신규 수주에 포함되었습니다.
TechnipFMC의 해저 부문 총괄인 Jonathan Landes는 Petrobras와 수십 년에 걸쳐 쌓아온 신뢰에 대한 자부심을 강조하며, 그들의 핵심 기술이 Petrobras의 야망을 지원할 것이라고 밝혔습니다. TechnipFMC는 글로벌 제조 능력을 활용하여 진행 중인 사유층 자원 개발을 지원할 계획입니다.
TechnipFMC (NYSE: FTI) a obtenu un contrat important de Petrobras pour la fourniture de tuyaux flexibles destinés aux champs pré-salifères au large du Brésil. Ce contrat, d'une valeur comprise entre 250 millions et 500 millions de dollars, couvre la conception, l'ingénierie et la fabrication de tuyaux flexibles pour l'injection d'eau et le levage de gaz. Ce contrat a été inclus dans les commandes entrantes de TechnipFMC pour le deuxième trimestre de 2024.
Jonathan Landes, président de la division Subsea chez TechnipFMC, a souligné la fierté de l'entreprise quant à la confiance construite avec Petrobras au fil des décennies et a mis en avant que leurs technologies clés soutiendront les ambitions de Petrobras. TechnipFMC prévoit de tirer parti de ses capacités de fabrication mondiales pour aider au développement continu des réserves pré-salifères.
TechnipFMC (NYSE: FTI) hat einen substanziellen Vertrag mit Petrobras über die Lieferung flexibler Rohre für die Pre-Salt-Felder vor der Küste Brasiliens gesichert. Der Vertrag, der einen Wert zwischen 250 Millionen und 500 Millionen Dollar hat, umfasst das Design, die Ingenieurtechnik und die Herstellung flexibler Rohre für Wasserinjektion und Gashebung. Diese Vergabe wurde in die Auftragseingänge von TechnipFMC für das zweite Quartal 2024 aufgenommen.
Jonathan Landes, Präsident der Subsea-Abteilung bei TechnipFMC, betonte den Stolz des Unternehmens auf das über Jahrzehnte aufgebaute Vertrauen zu Petrobras und hob hervor, dass ihre Kerntechnologien die Ambitionen von Petrobras unterstützen werden. TechnipFMC plant, seine globalen Fertigungskapazitäten zu nutzen, um die fortlaufende Entwicklung der Pre-Salt-Vorkommen zu unterstützen.
- Secured a substantial contract worth $250-$500 million from Petrobras
- Contract included in Q2 2024 inbound orders, boosting future revenue
- Strengthens long-term relationship with major client Petrobras
- Utilizes core technologies and global manufacturing capabilities
- None.
Insights
This contract award is a significant development for TechnipFMC, with an estimated value between
Investors should also note the inclusion of this award in the second quarter of 2024 inbound orders, which will reflect positively on upcoming earnings reports. This might enhance investor confidence and potentially influence the stock price positively in the short to medium term.
The Brazilian pre-salt fields are among the most promising offshore oil reserves globally. TechnipFMC's involvement in this project reinforces its position as a key player in the subsea engineering market. The company's advanced flexible pipe technology is pivotal for efficient oil and gas extraction in these challenging offshore environments.
This contract also underscores the growing demand for advanced subsea technologies, which could lead to increased market opportunities for TechnipFMC. Long-term investors should consider the strategic value of this contract in positioning TechnipFMC within the global energy market.
The award to TechnipFMC for supplying flexible pipes for the pre-salt fields is a testament to the advanced technology and engineering capabilities of the company. Flexible pipes are important for water injection and gas lift operations, essential for maximizing oil recovery from complex offshore reservoirs.
TechnipFMC's ability to design, engineer and manufacture these pipes demonstrates its technological leadership in the subsea sector. This expertise not only supports Petrobras's ambitious development goals but also sets a high standard in the industry. The successful execution of this contract could further solidify TechnipFMC’s reputation for innovation and technical proficiency.
The contract covers the design, engineering, and manufacture of flexible pipe for water injection and gas lift.
Jonathan
(1) For TechnipFMC, a “substantial” contract is between
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 (formerly Twitter) @TechnipFMC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723945322/en/
Investor relations
Matt Seinsheimer
Senior Vice President, Investor Relations and Corporate Development
Tel: +1 281 260 3665
Email: Matt Seinsheimer
James Davis
Director, Investor Relations
Tel: +1 281 260 3665
Email: James Davis
Media relations
David Willis
Senior Manager, Public Relations
Tel: +44 7841 492988
Email: David Willis
Source: TechnipFMC plc
FAQ
What is the value of TechnipFMC's (FTI) contract with Petrobras for flexible pipe supply?
When was the Petrobras contract included in TechnipFMC's (FTI) inbound orders?
What type of flexible pipe will TechnipFMC (FTI) supply to Petrobras under this contract?
What services are covered in TechnipFMC's (FTI) contract with Petrobras?
