TechnipFMC (FTI) wins major EPCI contract with Equinor
TechnipFMC plc FTI recently won a major contract for Equinor EQNR for Engineering, Procurement, Construction and Installation (EPCI) on the Kristin Sør field in the North Sea. For the company, a major contract is worth between $ 75 million and $ 250 million.
TechnipFMC will supply rigid pipes, static and dynamic umbilicals as well as pipeline installation and marine subsea production facilities, according to the terms of the contract. The company’s operations center in Oslo, Norway will oversee the project, with manufacturing taking place at the company’s sites in Norway and the UK.
Jonathan Landes, president of the company in charge of the submarine, said: “We are proud to collaborate closely with Equinor again, working together from the start of the start-up and design phase to develop solutions and a methodology. optimized for installation for Kristin Sør. This project will also use Deep Arctic, which is equipped with hybrid battery solutions to reduce emissions. “
In addition, TechnipFMC was awarded a major submarine contract with an oil major Petrobras SA PBR for the Búzios 6-9 fields located in the Santos Basin off Brazil. Under the terms of the agreement, the company will provide underwater shafts with controls, power and hydraulic distribution units, surface systems as well as installation and response assistance with rental tools. .
Memory on the company
TechnipFMC is a leading manufacturer and supplier of fully integrated technology products, services and solutions for the energy industry. The company, founded by the merger in January 2017 of Technip and FMC Technologies, is engaged in the design, production and maintenance of technologically sophisticated systems and products for subsea, onshore / offshore and surface projects.
Zacks rank and key choice
TechnipFMC currently has a Zacks Rank # 3 (Hold). A better ranked stock in the energy field is Baker Hughes Company BKR, currently posting a Zacks Rank # 1 (strong buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
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