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TechnipFMC wins Subsea EPCI for the Libra Consortium’s Mero 2 Project, operated by Petrobras in Brazil

08.20.2020

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Aug. 20, 2020-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large(1) contract for Engineering, Procurement, Construction and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader and operator of the Libra Consortium, which was formed by Petrobras, Shell Brasil, Total, CNPC, CNOOC Limited and Pré-sal Petróleo SA (PPSA), for the pre-salt Mero field, located in the Santos Basin (Brazil) at 2,100 meters deep.

The contract covers engineering, procurement, construction, installation and pre-commissioning of the infield rigid riser and flowlines for production, including the water alternate gas wells. It also comprises the installation and pre-commissioning of service flexible lines and steel tube umbilicals, as well as towing and hook up of the FPSO(2).

The Company will leverage synergies with the Mero 1 project Subsea EPCI, utilizing in-house rigid and flexible lay vessels and its significant local footprint in Brazil, including a spoolbase, logistics base and engineering capabilities. The offshore campaign is scheduled to start in 2022.

Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are delighted to have been awarded another EPCI contract by the Libra Consortium, which reinforces the long-standing relationship between Petrobras and TechnipFMC. By executing and delivering this new flagship project, we are looking forward to supporting Petrobras’s ambition in the pre-salt region and contributing to the development of Brazil.”

  1. For TechnipFMC, a “large” contract ranges between $500 million and $1 billion.
  2. FPSO: Floating Production Storage and Offloading unit

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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 the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.

Organized in three business segments — Subsea, Surface Technologies and Technip Energies — 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 customers in developing their energy resources and in their positioning to meet the energy transition challenge.

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

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

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Source: TechnipFMC