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TechnipFMC Awarded Significant iEPCI Contract by Shell for the Dover Development

Business Wire 25-May-2023 4:15 PM

TechnipFMC (NYSE:FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE:SHEL) for its Dover development in the Gulf of Mexico.

TechnipFMC will supply the subsea tree systems in addition to the engineering, procurement, construction and installation of the umbilical, riser, and flowline systems.

The Dover development will tie back to the Appomattox platform, where TechnipFMC previously supplied and installed the subsea production systems.

Jonathan Landes, President, Subsea at TechnipFMC, commented: "Dover represents a continuation of our decades-long relationship with Shell. We look forward to helping extend production in this prolific basin."

(1) For TechnipFMC, a "significant" contract is between $75 million and $250 million. This award will be included in inbound orders in the second quarter of 2023.

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 "expect," "believe," "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. For 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 Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

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 20,000 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 Twitter @TechnipFMC.

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