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TechnipFMC and MMHE Sign a Long-Term Offshore Agreement with Saudi Aramco

01.07.2019

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jan. 7, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982), in consortium with MMHE (Malaysia Marine and Heavy Engineering Sdn Bhd), has signed a Long-Term Offshore Agreement with Saudi Aramco.

This agreement, valid for 6 years, covers engineering, procurement, fabrication, transportation and installation of offshore facilities for the development of Saudi Aramco’s offshore projects.

This agreement builds on the long-term relationship between TechnipFMC and Saudi Aramco, as well as the strong partnership between TechnipFMC and MMHE which has a proven track record of successful project execution and delivery.

In support of this project, TechnipFMC will continue hiring and training Saudi engineers, supporting the on-going Saudization initiative.

Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, commented: “We are very pleased to extend our partnership with Saudi Aramco and to support their ambitious offshore development program. Along with our partner MMHE, we firmly believe that success is achieved through collaboration and that this agreement, leveraging the know-how and expertise of all parties, will be beneficial to the Saudi industry.”

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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 “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.

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About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.

 

Source: TechnipFMC

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