TechnipFMC Receives Significant Award from Azule Energy in Angola

Rhea-AI Summary

TechnipFMC (NYSE: FTI) Receives Significant Award from Azule Energy for Ndungu Project Offshore Angola, Strengthening Collaboration and Efficiency. The company secured a substantial flexible pipe supply contract, demonstrating transparency and collaboration with Azule. The award falls within the $75 million to $250 million range and was included in second quarter 2023 inbound orders.

Positive

• TechnipFMC secures a significant contract, indicating strong collaboration and efficiency with Azule Energy.
• The award falls within the $75 million to $250 million range, reflecting substantial financial value for the company.

Negative

• None.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has received a significant⁽¹⁾ award by Azule Energy to supply flexible pipe for its Ndungu project, offshore Angola.

The Ndungu project will tie into Block 15/06 West Hub, where TechnipFMC was recently awarded a substantial flexible pipe contract. Through this extension, the Company was able to provide an optimized solution that enables Azule to maintain schedule and achieve efficiencies.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “This contract is the result of transparency and collaboration between TechnipFMC and Azule to accommodate a fast-track schedule. Trust, responsiveness, and agility are at the core of the relationship we are building with this key player in Angola. We’re delighted to be working with Azule once again.”

(1) For TechnipFMC, a “significant” award is between $75 million and $250 million. This award was included in inbound orders in the second quarter of 2023.

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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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

Catie Tuley

Director, Public Relations

Tel: +1 713 876 7296

Email: Catie Tuley

David Willis

Senior Manager, Public Relations

Tel: +44 7841 492988

Email: David Willis

Source: TechnipFMC plc

FAQ

What is the significance of the award received by TechnipFMC from Azule Energy for the Ndungu project offshore Angola?

The award signifies a substantial contract for TechnipFMC, strengthening its collaboration and efficiency with Azule Energy for the Ndungu project.

What is the financial value of the award received by TechnipFMC from Azule Energy?

The award falls within the $75 million to $250 million range, reflecting substantial financial value for TechnipFMC.

What is the impact of the award on TechnipFMC's second quarter 2023 inbound orders?

The award was included in the second quarter 2023 inbound orders, indicating a positive financial impact for the company.