TechnipFMC Lands Major Subsea Contract

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Credit: Tom Fisk/Pexels

TechnipFMC, a company listed on the NYSE under the ticker symbol FTI, has secured a significant contract from Azule Energy. 

Subsea production

The contract entails the supply of subsea production systems for the Block 18 Infills development located offshore Angola. This marks TechnipFMC’s first subsea production systems contract with Azule Energy, following a previous announcement regarding a flexible pipe supply contract for Azule’s Agogo Integrated West Hub Development. The reconfiguration of the existing field layout will be carried out to accommodate the installation of new equipment that supports Azule’s plan for increasing production. TechnipFMC will be responsible for the design and manufacturing of various components, including subsea trees, manifolds, subsea distribution equipment, topside controls, jumpers, flowlines, and umbilicals.

Winning the deal

Jonathan Landes, the President of Subsea at TechnipFMC, expressed his satisfaction with securing the contract and emphasized the importance of their extensive understanding of the existing infrastructure in winning the deal. He also expressed delight in strengthening the company’s relationship with Azule Energy through the supply of subsea production systems. As per TechnipFMC’s categorization, a “significant” contract falls within the range of $75 million to $250 million. This contract award will be included in their second-quarter 2023 inbound orders.

 

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Source: TechnipFMC

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