TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell Nigeria Exploration and Production Company Limited to supply Subsea 2.0 production systems for the Bonga North development in Nigeria.
The contract covers the design and manufacture of subsea tree systems, manifolds, jumpers, controls, and services.
Jonathan Landes, President, Subsea at TechnipFMC, commented: "Shell was the first to adopt our Subsea 2.0 configure-to-order solution, and continues to deploy it across multiple basins-underscoring its commitment to the technology globally. This award further positions us for future deepwater opportunities in the region."
(1) For TechnipFMC, a "substantial" contract is between $250 million and $500 million. This award will be included in inbound orders in the fourth quarter of 2024.
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients' project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments Subsea and Surface Technologies we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI, iFEED and iComplete), technology leadership and digital innovation.
Each of our approximately 21,000 employees is driven by a commitment to our clients' success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on X @TechnipFMC.
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