LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) (NYSE and Euronext: FTI) has been awarded a contract by Shell Offshore Inc., a subsidiary of Royal Dutch Shell PLC (Shell), for the delivery, integration, and installation of the subsea production system (SPS) and subsea riser, jumper and flowline (SURF) equipment for phase one of the Kaikias deep water project in the Gulf of Mexico. This new contract builds on an established, successful relationship between Shell and TechnipFMC.
“TechnipFMC has a proven track record of competitively designing subsea production systems and technologies that directly contribute to improved project economics,” said Hallvard Hasselknipe, President Subsea Projects, TechnipFMC. “We are excited to bring our expertise to Kaikias phase one and provide Shell with cost efficient SPS and SURF solutions that will enable efficient project execution and maximize production from the field.”
TechnipFMC collaborated with Shell during the front end planning and design for Kaikias phase one to engineer solutions and efficient execution opportunities designed to improve the overall cost and pace of development. Under the terms of the contract, TechnipFMC will manufacture, install and integrate proprietary SPS and SURF equipment designed to improve project economics by optimizing field production and minimizing lead times.
This includes the first application of TechnipFMC’s compact pipeline end manifold and horizontal connection system technologies with flexible jumpers in the deepwater Gulf of Mexico.
Kaikias is located in the prolific Mars-Ursa basin approximately 210 kilometers (130 miles) from the Louisiana coast and is estimated to contain more than 100 million barrels of oil equivalent recoverable resources. The field will produce oil and gas through a subsea tie-back to the nearby Shell-operated Ursa production hub.
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 44,000 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.
Important Information for Investors and Securityholders
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 “scheduled,” “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. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and Shell’s acceptance of, the subsea products ordered. For additional 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 Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
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