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TechnipFMC awarded a significant Subsea contract for the Lapa Pre-Salt Field in Brazil

04.09.2019

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Apr. 9, 2019-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) contract for Lapa field by Total E&P do Brasil Ltda. (“Total”), on behalf of the Lapa Field Consortium, comprised of Total (35%), Shell Brasil Petróleo Ltda. (30%), Repsol Sinopec Brasil S.A. (25%) and Petróleo Brasileiro S.A. - Petrobras (10%). The Lapa field is located in the pre-salt Santos Basin, under the BM-S-9A concession, at 2,150 meters of water depth offshore Brazil.

The contract covers the supply of flexible pipes for oil production, gas lift and gas injection as well as associated accessories. The field will be connected to the FPSO(2) Cidade de Caraguatatuba, already in operation.

Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are honored to be selected to execute the Lapa pre-salt field project in Brazil. We look forward to collaborating with Total and the Lapa Field Consortium to further enhance the hydrocarbon potential of Brazil.

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
(2) FPSO: Floating Production Storage and Offloading unit

Note: this inbound order was included in the Company’s first quarter 2019 financial results.

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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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