TechnipFMC, Petronas to Commercialize Gas Processing Technology

Rhea-AI Summary

TechnipFMC has partnered with PETRONAS Technology Ventures to commercialize a novel natural gas processing membrane that significantly reduces greenhouse gas emissions.

This membrane technology, licensed from PETRONAS, is 30% more efficient than current gas treatment processes and will be integrated into TechnipFMC's global production portfolio, excluding China.

Key executives from both companies expressed optimism about this collaboration, highlighting its potential impact on sustainable energy solutions.

Positive

• Partnership with PETRONAS to commercialize a new gas processing membrane.
• Membrane technology shows 30% greater efficiency in gas treatment.
• Potential for significant reductions in greenhouse gas emissions.

Negative

• None.

NEWCASTLE, England & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) and PETRONAS Technology Ventures Sdn Bhd (PTVSB), a subsidiary of PETRONAS, today entered into an agreement to commercialize a unique natural gas processing membrane which reduces greenhouse gas (GHG) emissions.

Through the technology commercialization agreement, TechnipFMC will utilize and integrate the membrane technology licensed from PETRONAS as part of its production portfolio in projects worldwide, outside China.

The technology, which removes carbon dioxide and hydrogen sulfide by using wetted membranes, is 30 percent more efficient than existing gas treatment processes and can reduce GHG emissions by significant amounts. The membrane has potential applications in both offshore and onshore hydrocarbon production environments.

Luana Duffé, Executive Vice President, New Energy Ventures at TechnipFMC, commented: “Our ability to industrialize processes is at the core of this partnership, which is another important step in TechnipFMC’s efforts to help our clients reduce their upstream carbon footprint.”

Bacho Pilong, Senior Vice President of Project Delivery and Technology at PETRONAS, commented: “We are excited to bring to fruition this innovation which will effectively reduce GHG emissions, together with TechnipFMC as our strategic commercialization partner. We believe this collaboration will inspire more innovative solutions towards cleaner, sustainable energy for a better tomorrow.”

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.

About Petroliam Nasional Berhad

We are a dynamic global energy group with presence in over 50 countries. We produce and deliver energy and solutions that power society’s progress in a responsible and sustainable manner.

We seek energy potential across the globe, optimising value through our integrated business model. Our portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.

Sustainability is at the core of what we do as we harness the good in energy to elevate and enrich lives. People are our strength and partners for growth, driving our passion for innovation to progress towards the future of energy sustainability.

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Source: TechnipFMC plc

FAQ

What is the agreement between TechnipFMC and PETRONAS?

TechnipFMC has entered an agreement with PETRONAS to commercialize a new natural gas processing membrane aimed at reducing greenhouse gas emissions.

How efficient is the new gas processing membrane developed by TechnipFMC?

The new membrane technology is 30% more efficient than existing gas treatment processes.

Where will TechnipFMC implement the new membrane technology?

TechnipFMC will integrate the membrane technology into its projects worldwide, excluding China.

What impact does the new technology have on greenhouse gas emissions?

The membrane technology has the potential to significantly reduce greenhouse gas emissions during natural gas processing.