TechnipFMC Awarded a Significant Subsea Contract for the Equinor Johan Sverdrup Phase 2 Development

Business Wire 20-Mar-2019 2:00 AM

TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) has been awarded a significant⁽¹⁾ Subsea contract by Equinor for the Johan Sverdrup Phase 2 development, located in the Norwegian sector of the North Sea at a water depth of 120 meters.

The contract covers the delivery and installation of the subsea production system including integrated template structures, manifolds, tie-in and controls equipment.

Arnaud Piéton, President Subsea at TechnipFMC, commented: "We have collaborated closely with Equinor establishing a Strategic Collaboration Agreement in 2018. This joint engagement is leading to further value creation for both of us and for Equinor's Johan Sverdrup Phase 2 Development. It reaches beyond the supply of subsea equipment, now encompassing its installation. We are very proud of this joint engagement and very pleased to work alongside Equinor for the Johan Sverdrup Phase 2 development."

⁽¹⁾For TechnipFMC, a "significant" contract ranges between $75 million and $250 million.

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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 37,000 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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