Market Overview

TechnipFMC awarded subsea contract in Australia

Share:

TechnipFMC (NYSE:FTI) (PARIS: FTI) has been awarded a subsea
installation contract by Chevron Australia, for the Gorgon Stage Two
development, located offshore Western Australia in water depths ranging
from 250 to 1,340 meters.

The contract covers the project management and engineering,
transportation, installation and pre-commissioning of umbilicals and
flying leads as well as manifolds. The award also includes fabrication,
transportation, installation and testing of rigid spools.

TechnipFMC will leverage local capabilities as well as its global
state-of-the-art pipelay fleet for the offshore campaign.

Hallvard Hasselknippe, President of TechnipFMC's Subsea business,
commented: "We are pleased TechnipFMC has been selected for this
significant contract. We value our long-term, collaborative relationship
and are committed to bring the best assets and our solid experience in
project execution, fabrication and installation to the field."

The Gorgon project is operated by Chevron Australia and is a joint
venture of the Australian subsidiaries of Chevron (46.3%), ExxonMobil
(25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA (0.417%).
The Phase 2 development aims to upgrade the project's existing subsea
facilities to ensure production is maintained for future gas supply.

###

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 "estimated", "aimed", "scheduled" and 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. Known material factors that could
cause our actual results to differ from those in the forward-looking
statements include the Company's ability to successfully deliver, and
Chevron's acceptance of, the subsea products ordered. For additional
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 Registration Statement on Form S-4, 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.

View Comments and Join the Discussion!