TechnipFMC Awarded Significant Subsea Contract by bp in the Gulf of Mexico

TechnipFMC (NYSE: FTI) has been awarded a significant⁽¹⁾ contract by bp (LON: BP) for its Argos Southwest Extension project in the Mad Dog field.

TechnipFMC will install pipe and an umbilical, tying back three new wells to the Argos platform in the Gulf of Mexico.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We have a long-standing relationship with bp, underpinned by close collaboration. This partnership, combined with our robust installation and execution capabilities, enables us to meet bp’s schedule to extend the production in the Mad Dog field.”

Under the contract, TechnipFMC will also manufacture and install pipeline end terminations.

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million. This award was included in fourth quarter 2023 Subsea inbound orders.

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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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The TechnipFMC Stock at the time of publication of the news with a raise of +0,35 % to 17,11EUR on Lang & Schwarz stock exchange (16. Januar 2024, 22:18 Uhr).