TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract for Subsea 2.0® production systems by Chevron for the Gorgon Stage 3 brownfield project.
This contract marks the introduction of the first 7-inch series of Subsea 2.0® horizontal subsea trees. In addition, TechnipFMC will deliver flexible jumpers designed to increase production rates and provide flow assurance for gas applications.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Gorgon Stage 3 incorporates our Subsea 2.0® configure-to-order platform and our unique advanced flexible pipe technology. At TechnipFMC, we focus on commercializing innovative solutions that give our customers confidence in project execution and schedule certainty. We are proud to continue our 20-year partnership with Chevron on the Gorgon development through this latest opportunity.”
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
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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 “expect,” “believe,” “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. For information regarding known material factors that could cause actual results to differ from projected results, including our assumptions and projections regarding the expected benefits of the awarded contract, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our 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.
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