TechnipFMC and DOF Subsea Awarded Significant Long-term Contracts by Petrobras

NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) and its joint venture (JV) partner DOF Subsea (OSE: DOF) have been awarded significant⁽¹⁾ long-term charter and services contracts by Petrobras (NYSE: PBR) for the pipelay support vessels Skandi Vitória and Skandi Niteroi.

The Brazilian-built and flagged vessels are owned by DOFCON Navegação Ltda, a 50/50 JV between TechnipFMC and DOF Subsea. Each contract is for three years, with an option to extend.

Operations are expected to begin by February 2022. Skandi Niteroi will operate mostly in shallow water, while Skandi Vitória will work in shallow and deep water. Both vessels will perform decommissioning and subsea installation work.

Jonathan Landes, President, Subsea at TechnipFMC, commented, “Our vessels serve as an important component of the strong flexible pipe ecosystem we have in Brazil. We are proud to extend our multi-decade relationship with Petrobras through these long-term contracts, which are built on close collaboration and our client’s trust in our ability to safely and efficiently deliver quality.”

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.

Note: this inbound order is included in the Company’s third quarter financial results.

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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 20,000 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 Twitter @TechnipFMC.