LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Oct. 18, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (EPCI) contract by Woodside for the development of the Pyxis and Xena fields, located offshore North West Australia.
TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals.
This contract is the first call-off under the recently executed five-year EPCI Frame Agreement between TechnipFMC and Woodside. The Frame Agreement allows collaborative development of projects for Woodside through early engagement and utilization of TechnipFMC integrated execution solutions.
Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are very pleased to have signed a five-year Frame Agreement with Woodside that leads to this first contract under this agreement. This iEPCITM contract combines our integrated subsea solution with our Subsea 2.0 products and illustrates TechnipFMC’s complete offering. We value our long-term, collaborative relationship with Woodside and are committed to bring the best in the execution of this project.”
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million
Note: this inbound order was included in the Company’s third quarter financial results.
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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.
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