TechnipFMC Awarded Large Subsea Contract for ExxonMobil Guyanas Uaru Project

TechnipFMC (NYSE: FTI) has been awarded a large1 contract by ExxonMobil Corporation (NYSE: XOM) affiliate, Esso Exploration and Production Guyana Limited, to supply the subsea production system for the Uaru project.

TechnipFMC will provide project management, engineering, and manufacturing to deliver the overall subsea production system. The award covers 44 subsea trees and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are very proud to continue our relationship with ExxonMobil Guyana through this award, which is our fifth within the Stabroek block. This is ExxonMobil Guyana’s first project utilizing our Subsea 2.0™ system, which leverages our configure-to-order model to deliver on an accelerated schedule.”

TechnipFMC currently employs more than 100 Guyanese, and expects to continue to hire and train additional local staff in support of this award.

1 For TechnipFMC, a “large” contract is between $500 million and $1 billion.