TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for the VNG Fenja Project in the Norwegian Sea
LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) (NYSE: FTI)
(PARIS: FTI) has been awarded an integrated Engineering, Procurement,
Construction and Installation (iEPCI™) contract from VNG Norge AS.
The contract covers the provision of subsea equipment including
umbilicals, risers, flowlines and the subsea production system for the
Fenja Project (previously known as Pil & Bue). Fenja is located in the
Norwegian Sea and will be tied back to the Njord platform.
Hallvard Hasselknippe, President of TechnipFMC’s Subsea Projects,
commented: “This is TechnipFMC’s sixth iEPCITM
award and the largest one to date. It is also our first Major*
integrated project award. We are grateful to VNG for being an early
mover in embracing the iEPCITM execution model
and very happy to support their first E&P development as operator. The
Fenja project will have the longest Electrically Trace Heated (ETH)
pipeline in the world at 37 km, and will benefit from multiple
TechnipFMC product groups and engineering locations.”
*For TechnipFMC, a “major” contract is above USD250 million.
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 “scheduled,” “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. 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
VNG Norge AS’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.
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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 40,000 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.
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Matt
Seinsheimer
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Senior
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James
Davis
or
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Vice President Corporate Communications
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