TechnipFMC Awarded Significant Subsea Contracts in India

Posted On July 1st, 2019 - 9:09 am | by Oil and gas press

TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded significant(1) subsea contracts by Reliance Industries Limited for the MJ1 field located in deep water offshore India in the Krishna Godavari basin.

These contracts cover the fabrication and installation of flexible risers, rigid and flexible flowlines and umbilicals.

Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are very honored to be associated with this prestigious natural gas project leading to further value creation. These awards confirm the trust we have built over the long term with Reliance along the oil and gas value chain, reflecting both our commitment to the Indian market and our leadership in the energy transition domain, through subsea gas projects.”

The MJ1 field is operated by Reliance Industries. This high-pressure high-temperature gas field is located in water depths ranging between 1,000 and 1,200 meters and will be connected to a new Floating Production Storage and Offloading facility.

(1)For TechnipFMC, a “significant” contract is between $75 million and $250 million; the total value of all contracts is also within this range.

Note: this inbound order was included in the Company’s second quarter financial results.

Source / More : TechnipFMC

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