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TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for the Shell Perdido Phase 2 Development

10.22.2019

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Oct. 22, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the Perdido Phase 2 development, located in the Gulf of Mexico.

The contract covers the delivery and installation of subsea equipment, including flexible flowlines, flexible jumpers, steel flying leads, electrical flying leads, and will utilize compact manifold technology, with the Subsea 2.0 In-Line Compact Manifold(1).

Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are extremely pleased to have been selected by Shell for the Perdido Phase 2 development which is incorporating our latest generation of subsea equipment. This award once again confirms our leadership position in complete subsea developments, through early engagement with iFEED (integrated FEED) studies and realizing the full scope through an integrated EPCI (iEPCI™). We are looking forward to further support Shell in unlocking benefits through our integrated offering.”

(1)The Subsea 2.0 In-Line Compact Manifold recently received a Spotlight on New Technology Award at the Offshore Technology Conference.

Note: this inbound order was included in the Company’s second quarter financial results.

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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 “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 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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