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TechnipFMC Awarded Subsea Contracts for Anadarko’s Mozambique LNG

06.18.2019

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jun. 18, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a number of subsea contracts by Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, for its Mozambique Golfinho/Atum development.

TechnipFMC was awarded a major(1) Contract for the Engineering, Procurement, Construction and Installation (EPCI) of the subsea hardware system through its wholly owned UAE incorporated subsidiary, Technip Middle East FZCO. TechnipFMC will execute the offshore installation scope with its consortium partner Van Oord, through their wholly owned UAE incorporated subsidiary, Van Oord Gulf FZE, and in cooperation with strategic major subcontractor, Allseas.

In addition, TechnipFMC has been awarded separate contracts under its wholly owned US incorporated subsidiary FMCTI (FMC Technologies Inc.), to provide subsea hardware in support of well construction and the EPCI scope.

Arnaud Pieton, President Subsea at TechnipFMC, stated: “We are extremely pleased to have been selected for the majority of the Mozambique LNG subsea scope. TechnipFMC will execute its scope utilizing our integrated model (iEPCITM) and will highlight our industry leading subsea capabilities to help maximize Anadarko’s overall project value. This award is a testament of our 25-year partnership with Anadarko and will further expand our presence in Mozambique.”

Further to these awards, TechnipFMC and Allseas have entered into a Strategic Collaboration Agreement aimed at jointly pursuing specific deepwater projects where the assets, products and capabilities of both companies are complementary. This Strategic Collaboration will give both companies an enhanced access to world-class opportunities. It will allow our clients to benefit from the unique joint capabilities and integrated delivery assurance of TechnipFMC and Allseas on their most ambitious projects, such as Golfinho.

In support of these awards, TechnipFMC is increasing its footprint in Mozambique and opened a new office in Maputo, Mozambique, in February 2019. Through extensive cooperation agreements with local universities such as UEM and Uni Lurio, TechnipFMC will offer unique training opportunities to young Mozambican engineers that will continue building on our local expertise.

The Anadarko-operated Mozambique LNG project will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 Mtpa(2) to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.

(1)For TechnipFMC, a “major” project is over $1 billion.
(2)Mtpa = Million metric tons per annum.

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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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