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TECHNIPFMC PLC

(FTI)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
12.89 USD   +3.53%
11/18Piper Sandler Ups Price Target on TechnipFMC to $17 From $13, Affirms Overweight Rating
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11/16Transcript : TechnipFMC plc Presents at BofA Securities Global Energy Conference, Nov-16-2022 03:30 PM
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11/16TechnipFMC plc - How Subsea 2.0 and the configure-to-order model are cutting lead time and de-risking projects
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

TechnipFMC Awarded a Significant Subsea Contract for Shell's North Sea Development

09/23/2022 | 08:47am EST

NEWCASTLE - TechnipFMC (NYSE: FTI) has been awarded a significant(1) engineering, procurement, construction and installation (EPCI) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the Jackdaw development, located in the United Kingdom North Sea.

The contract covers pipelay for a 30 kilometer tieback from the new Jackdaw platform to Shell's Shearwater platform, as well as an associated riser, spoolpieces, subsea structures, and umbilicals.

The tieback will use pipe-in-pipe technology, which is designed for high pressure, high temperature use.

Jonathan Landes, President, Subsea at TechnipFMC, commented, 'We're excited to embark on this significant project together in the UK North Sea. Our strong technical record and our ability to design, engineer, construct and install were key to our success in winning this award.'

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. 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.

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.

Contact:

Matt Seinsheimer

Tel: +1 281 260 3665

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SHELL PLC -0.69% 2365.5 Delayed Quote.45.86%
TECHNIPFMC PLC 3.53% 12.89 Delayed Quote.117.74%
All news about TECHNIPFMC PLC
11/18Piper Sandler Ups Price Target on TechnipFMC to $17 From $13, Affirms Overweight Rating
MT
11/16Transcript : TechnipFMC plc Presents at BofA Securities Global Energy Confere..
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11/16TechnipFMC plc - How Subsea 2.0 and the configure-to-order model are cutting lead time ..
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11/15Technipfmc : How Subsea 2.0™ and the configure-to-order model are cutting lead time ..
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11/14TechnipFMC to Address Attendees at the BofA Securities 2022 Global Energy Conference
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11/11Technipfmc : Investor Relations Overview - November 2022
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10/28TECHNIPFMC PLC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS..
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10/28Tranche Update on TechnipFMC plc's Equity Buyback Plan announced on July 28, 2022.
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10/27Transcript : TechnipFMC plc, Q3 2022 Earnings Call, Oct 27, 2022
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10/26Technipfmc : Third Quarter 2022 Earnings Presentation
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Financials (USD)
Sales 2022 6 654 M - -
Net income 2022 3,62 M - -
Net Debt 2022 263 M - -
P/E ratio 2022 835x
Yield 2022 -
Capitalization 5 755 M 5 755 M -
EV / Sales 2022 0,90x
EV / Sales 2023 0,81x
Nbr of Employees 19 103
Free-Float 98,7%
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Mean consensus BUY
Number of Analysts 23
Last Close Price 12,89 $
Average target price 13,42 $
Spread / Average Target 4,08%
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Managers and Directors
Douglas J. Pferdehirt Chairman & Chief Executive Officer
Alf T. Melin Chief Financial Officer & Executive Vice President
Justin Rounce Chief Technology Officer & Executive VP
Eleazar de Carvalho Filho Independent Director
Claire Scobee Farley Lead Independent Director
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