TechnipFMC PLC said it had won a “substantial contract” from Exxon Mobil Corp to deliver subsea production systems for the Hammerhead field in the Stabroek block offshore Guyana.
TechnipFMC has been selected by ExxonMobil Guyana to supply subsea production systems for the Hammerhead development in Guyana’s Stabroek block, TechnipFMC announced on Thursday.
TechnipFMC plc has been awarded a “significant” contract for subsea production systems by Petroleo Brasileiro SA (Petrobras) after a competitive tendering process. While the contract value remains undisclosed, TechnipFMC values significant contracts between $75 million and $250 million.
The agreement also includes installation support and life-of-field services, with options for additional equipment as projects progress. All subsea systems will be built and serviced in Brazil, underscoring both companies’ long-standing partnership and commitment to local content.
Shares of TechnipFMC PLC, one of the world’s biggest makers of offshore oil gear, surged to the highest in a decade on signs of a robust outlook that underscores the industry’s optimism over production at sea.
Energy tech provider TechnipFMC has secured an integrated engineering, procurement, construction, and installation (iEPCI) contract for Equinor ASA’s Heidrun extension project. TechnipFMC said in a media release that the award follows an integrated front-end engineering and design study it had already completed.
TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for its Heidrun extension project in the Norwegian North Sea.
TechnipFMC’s eSolutions platform supports field simplification by using standard system components with a track record of reliability. The company’s configure-to-order approach is said to enable standardization across subsea developments, with key parts of the electrical safety system including the 800-series controls and electric actuators.
TechnipFMC has raked in contracts for integrated engineering, procurement, construction and installation (EPCI) of subsea infrastructure in deepwater projects and mature basins. It anticipates winning more contract work in these regions, particularly offshore Brazil, Guyana, USA, and in West Africa and the North Sea, while new frontiers are emerging in Cyprus, India, Mozambique, Namibia and Suriname.
Subsea logged a first-quarter revenue of $1.9 billion, a decrease of 5.5 percent from the fourth quarter, the company said. Year-over-year revenue jumped 11.6 percent. The sequential decline resulted from decreased activity in Africa, the North Sea, and the Gulf of America, along with a drop in services activity attributed to normal offshore seasonality. This was somewhat balanced by an increase in project activity in Asia-Pacific and Brazil, the company said.