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TechnipFMC Awarded Large iEPCI™ Contract for Equinor's Johan Sverdrup Phase 3 Offshore Norway

1. FTI awarded large contract by Equinor for Johan Sverdrup Phase 3 development. 2. This contract boosts FTI's potential revenue from North Sea operations.

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FAQ

Why Bullish?

The award of a significant contract typically indicates strong future revenue streams. Similar past contracts have led to price increases for FTI as operational capacity grows.

How important is it?

The contract's significance in enhancing production aligns with FTI's strategic goals, indicating a substantial upward potential in their business operations.

Why Long Term?

Long-term contracts usually contribute to sustained revenue. The Johan Sverdrup Phase 3 development will enhance FTI’s position in ongoing and future projects.

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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for the Johan Sverdrup Phase 3 development in the Norwegian North Sea. The Johan Sverdrup field, which originally began production in 2019, is now one of the largest developments in the region. This latest phase will increase production by tying in additional wells to the current infrastructure, which is powered.

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