LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:
TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a front-end engineering design (FEED) contract by BP for the floating production storage and offloading (FPSO) unit for the Tortue/Ahmeyim Field Development, a major LNG (liquefied natural gas) project located offshore on the maritime border of Mauritania and Senegal.
The agreement between the two companies provides a mechanism to allow a transition of the contract to an Engineering, Procurement, Construction and Installation (EPCI) contract at a later stage.
TechnipFMC will work on defining the technology and equipment scope and brings expertise to deliver major projects, leveraging extensive experience with Chinese fabrication.
Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, commented: “We are very honored to be awarded this contract in West Africa which further demonstrates our leading position in offshore gas monetization. We look forward to collaborating with BP to unlock the full potential of this important project.”
The initial subsea infrastructure connects the first four wells consolidated through production pipelines leading to a FPSO vessel. From here liquids are removed and the export gas is transported via a pipeline to the floating liquid natural gas (FLNG) hub terminal where the gas is liquefied.
The Tortue/Ahmeyim Field Development is located in the C-8 block off the shore of Mauritania and the Saint-Louis Profond block offshore Senegal. The Tortue discovery was made by Kosmos Energy, which farmed down its investment to BP in December 2016. BP now has the largest interest (~60%) among the four partners in the project and is the operator.
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 “estimated”, “aimed”, “scheduled” and 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 BP’s acceptance of, the 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.
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.
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.