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TechnipFMC Awarded Substantial Subsea Contract for ExxonMobil Guyana's Hammerhead Project

1. TechnipFMC awarded a major contract by ExxonMobil for subsea production in Guyana. 2. The project supports production and water injection at Hammerhead development.

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FAQ

Why Bullish?

The contract signals strong demand for FTI's subsea technology, enhancing revenue potential. Similar past contracts have positively impacted stock performance amidst increased project commitments.

How important is it?

The award from ExxonMobil solidifies FTI's market position and growth trajectory, impacting investor confidence significantly.

Why Short Term?

Positive earnings impact expected from immediate project engagements; previous contracts show rapid revenue recognition.

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XOM
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by ExxonMobil Guyana Limited to supply subsea production systems for the Hammerhead development in Guyana's Stabroek Block. TechnipFMC will provide project management, engineering, and manufacturing of subsea production systems supporting both production and water injection capabilities. The subsea architecture will include products from the Subsea 2.0® platform, including subsea trees, manif.

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