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TechnipFMC Awarded Significant Contract for Subsea 2.0® Production Systems for Chevron's Gorgon Stage 3 Project

1. TechnipFMC awarded a substantial contract by Chevron for Gorgon Stage 3 project. 2. Introduction of new 7-inch subsea trees aims to enhance gas production.

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$46.41512/11 04:34 PM EDTEvent Start
$46.41512/11 07:11 PM EDTLatest Updated
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FAQ

Why Bullish?

The contract indicates strong demand for TechnipFMC's innovative subsea technology, historically leading to positive stock performance. Similar past contracts have resulted in long-term gains for FTI.

How important is it?

The awarded contract significantly enhances TechnipFMC's revenue prospects and market position, influencing investor sentiment positively.

Why Long Term?

The Gorgon Stage 3 project's scope and TechnipFMC's role may result in sustained revenue growth over the coming years, similar to past successful projects.

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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract for Subsea 2.0® production systems by Chevron for the Gorgon Stage 3 brownfield project. This contract marks the introduction of the first 7-inch series of Subsea 2.0® horizontal subsea trees. In addition, TechnipFMC will deliver flexible jumpers designed to increase production rates and provide flow assurance for gas applications. Jonathan Landes, President, Subsea at TechnipFMC, commented:.

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