TechnipFMC and DOF Subsea Announce the Delivery of Skandi Recife and Commencement of Contract with Petrobras

LONDON & PARIS & HOUSTON--()--TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982) and DOF Subsea (DOF) announce that the Skandi Recife, a Brazilian-flagged flexible lay and construction vessel owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petróleo Brasileiro S.A. (Petrobras). The vessel will work in the Campos, Santos and Espírito Santo basins.

Skandi Recife has state of the art pipelay and marine technology. She has a 340 tons Vertical Lay System (VLS) tower, 2,500 tons underdeck carousel and two work-class ROVs*, allowing her to lay flexible pipes in water depths up to 2,500 meters. She was built by Vard Promar Brazilian yard, where her sister ship, Skandi Olinda, is currently under construction, with a high rate of Brazilian national content.

Under the TechnipFMC/DOF joint venture agreement, TechnipFMC will manage flexible pipelay, and DOF will be responsible for marine operations.

Hallvard Hasselknippe, President of Subsea activities at TechnipFMC, commented: "We are very proud of this significant addition to our fleet in Brazil and to our partnership with DOF. The delivery of Skandi Recife and the commencement of a new contract with Petrobras reinforce our commitment to the development of the Brazilian market and our extensive ultra-deepwater pipelaying experience.”

DOF Subsea CEO, Mons S. Aase, said: Taking delivery of Skandi Recife and commencing the contract with Petrobras is an important milestone in our partnership with TechnipFMC. We are proud of this significant addition to our Brazilian fleet and look forward to seeing the vessel in operation in the years to come.”

*ROV: Remotely Operated Vehicle

Important Information for Investors and Securityholders

Forward-Looking Statement

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 Petróleo Brasileiro S.A.’s acceptance of, the vessel 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.

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.

Contacts

TechnipFMC
Investor relations
Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
Email: Matt Seinsheimer
or
Phillip Lindsay
Director Investor Relations Europe
Tel: +44 203 429 3929
Email: Phillip Lindsay
or
Media relations
Christophe Belorgeot
Vice President Corporate Communications
Tel: +33 1 47 78 39 92
Email: Christophe Belorgeot
or
Delphine Nayral
Senior Manager Public Relations
Tel: +33 1 47 78 34 83
Email: Delphine Nayral

Contacts

TechnipFMC
Investor relations
Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
Email: Matt Seinsheimer
or
Phillip Lindsay
Director Investor Relations Europe
Tel: +44 203 429 3929
Email: Phillip Lindsay
or
Media relations
Christophe Belorgeot
Vice President Corporate Communications
Tel: +33 1 47 78 39 92
Email: Christophe Belorgeot
or
Delphine Nayral
Senior Manager Public Relations
Tel: +33 1 47 78 34 83
Email: Delphine Nayral