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MarketScreener Homepage  >  Equities  >  Nyse  >  TechnipFMC plc    FTI   GB00BDSFG982

TECHNIPFMC PLC

(FTI)
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TechnipFMC : Awarded Significant Integrated EPCI Contract for Woodside's Lambert Deep and Greater Western Flank Fields in Australia

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04/21/2020 | 08:23am EDT

TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a significant (1) integrated Engineering, Procurement, Construction and Installation (iEPCI) contract by Woodside Energy Limited for the development of the Lambert Deep and Phase 3 of the Greater Western Flank fields, located offshore Northwestern Australia.

TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals for connection to the Angel platform.

This is the second contract under the recently announced five-year iEPCI Frame Agreement between TechnipFMC and Woodside.

Arnaud Pieton, President Subsea at TechnipFMC, commented: 'We are delighted to have been awarded another iEPCI project through our frame agreement with Woodside. This is Woodside's second consecutive award adopting our Subsea 2.0 platform, confirming our common ambition to transform subsea economics through integration, standardization and configurability.'

The Angel platform is located about 120 kilometers north-west of Karratha and is connected to the North Rankin Complex (NRC) via a 50 kilometers subsea pipeline.

For TechnipFMC, a 'significant' contract is between $75 million and $250 million

Note: this inbound order was included in the Company's first quarter 2020 financial results.

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 '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.

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.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world's energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Contact:

Matt Seinsheimer

Vice President Investor Relations

TechnipFMC

Tel: +1 281 260 3665

Email: Matt Seinsheimer

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
TECHNIPFMC PLC 3.67% 7.06 Delayed Quote.-67.07%
WOODSIDE PETROLEUM LTD -2.36% 21.14 End-of-day quote.-38.51%
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Financials (USD)
Sales 2020 12 573 M - -
Net income 2020 -3 180 M - -
Net cash 2020 354 M - -
P/E ratio 2020 -0,99x
Yield 2020 1,60%
Capitalization 3 172 M 3 172 M -
EV / Sales 2019
EV / Sales 2020 0,22x
Nbr of Employees 37 000
Free-Float 99,3%
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 12,36 $
Last Close Price 7,06 $
Spread / Highest target 353%
Spread / Average Target 75,0%
Spread / Lowest Target -37,7%
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Managers
NameTitle
Douglas J. Pferdehirt Chairman & Chief Executive Officer
Maryann T. Mannen Chief Financial Officer & Executive VP
Justin Rounce Chief Technology Officer & Executive VP
Arnaud Caudoux Independent Director
Pascal Colombani Lead Independent Director
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