Press release | October 11 2021
TechnipFMC Awarded Substantial Long-term Contract by Petrobras NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a substantial(1) long-term charter and services contract by Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atl ntico.
The Brazilian-registered vessel has been secured on a three-year contract, with an option to extend. Operations offshore Brazil are expected to begin in the second quarter of 2022.
Coral do Atl ntico is an important component of the Company's leading flexible pipe ecosystem in Brazil and will mainly be deployed in ultra-deepwater of up to 3,000 meters.
Jonathan Landes, President, Subsea at TechnipFMC, commented, Coral do Atl ntico is the third of our pipelay support vessels to be contracted via a long-term charter by Petrobras this year, indicating rising demand in the Brazilian market for flexibles. Coral do Atl ntico's versatility and ability to work in deep or shallow water is a large part of the vessel's appeal. This latest contract further strengthens our collaborative, trusting relationship with Petrobras that spans decades.
Coral do Atl ntico has a history of long-term charters with Petrobras and has consistently been awarded the client's highest rating for operational performance, quality of work, and health, safety and environment.
(1) For TechnipFMC, a substantial contract is between $250 million and $500 million.
Note: this inbound order is included in the Company's third quarter 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. For information regarding known material factors that could cause actual results to differ from projected results, 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.
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. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005318/en/
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: 1 281 260 3665
Email: Matt Seinsheimer
James Davis
Senior Manager, Investor Relations
Tel: 1 281 260 3665
Email: James Davis
Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: 44 1383 742297
Email: Nicola Cameron
Catie Tuley
Director, Public Relations
Tel: 1 713 876 7296
Email: Catie Tuley
Source: TechnipFMC plc
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Press release | October 11 2021 
