TechnipFMC (NYSE and Euronext: FTI) has been awarded an extension to its ongoing Engineering, Procurement and Construction (EPC) contract from Statoil in the Norwegian North Sea.
The ongoing EPC project covers the provision of subsea equipment including template structure, manifold and two subsea trees including wellheads and modifications of control systems to the Visund Nord IOR* project, whereas the extension includes installation of the template structure and manifold as well as delivery and installation of flowline spool and umbilical. The project will be executed as an integrated Engineering, Procurement, Construction and Installation (iEPCI).
Hallvard Hasselknippe, President Subsea Projects of TechnipFMC, commented: "This is our second iEPCI contract with Statoil. Our first iEPCI contract for the Trestakk project is progressing well and we are very honored that Statoil has again selected us for the Visund Nord development."
*Improved Oil Recovery
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 Statoil'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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