TechnipFMC Awarded Substantial Flexible Pipe Contract for Agogo Integrated West Hub Development Project

Rhea-AI Summary

TechnipFMC (NYSE: FTI) has secured a significant contract from Azule Energy for the Agogo Integrated West Hub Development Project in Angola. This contract, one of the largest for flexible pipe in West Africa, entails engineering, procurement, and supply of key components, including jumpers and flowlines. The flexible pipe will link the new Agogo facility to subsea production systems. The contract value is estimated between $250 million and $500 million. This achievement underscores TechnipFMC's capacity to facilitate rapid greenfield developments, a vital factor in winning this award.

Positive

• Awarded a substantial contract valued between $250 million and $500 million.
• Enhances TechnipFMC's portfolio with one of its largest flexible pipe contracts in West Africa.
• Demonstrates capability in supporting fast-track greenfield developments.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded a substantial⁽¹⁾ contract by Azule Energy to supply flexible pipe for the Agogo Integrated West Hub Development Project, offshore Angola.

The contract is one of TechnipFMC’s largest ever awards for flexible pipe in West Africa, and covers the engineering, procurement, and supply of jumpers, flowlines, risers, and all associated ancillary equipment. The flexible pipe will connect the new Agogo facility to the subsea production systems.

Azule Energy, a bp and Eni company, is the operator of Block 15/06 in Angola offshore, partnering with Sonangol P&P and SSI Fifteen Limited.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Our ability to meet Azule’s flexible pipe needs, which allows for optimized riser and flowline system configuration, was instrumental in winning this award. This is another example of our unique capability to support fast-track greenfield developments, and we are excited to be supporting Azule Energy and its partners on this project.”

(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million.

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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