TechnipFMC (NYSE: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Woodside Energy (LON: WDS) in Australia.
TechnipFMC will design, manufacture, and install the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03) to support ongoing production from the Pluto LNG Project. The award follows an integrated front end engineering design (iFEED™) study.
The project will use the Company’s Subsea 2.0® production system. Xena Phase 3 will be tied back to existing subsea infrastructure previously supplied by TechnipFMC.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are proud to be delivering a fully integrated project from concept to execution. This project will help our long-term client meet their objectives, demonstrating the favorable impact iFEED™, iEPCI™, and Subsea 2.0® can have on project economics.”
The contract is the latest call-off on the framework agreement between Woodside Energy and TechnipFMC.
(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 2024.
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Forward-Looking Statement
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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 (formerly Twitter) @TechnipFMC.
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