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TechnipFMC Awarded a Large Subsea Contract for ExxonMobil Payara Development

LONDON & PARIS & HOUSTON–(BUSINESS WIRE)– TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a large(1) contract by Exxon Mobil Corporation (NYSE:XOM) subsidiary Esso Exploration and Production Guyana Limited (“EEPGL”) for the subsea system for the proposed Payara project. TechnipFMC will manufacture...

LONDON & PARIS & HOUSTON–(BUSINESS WIRE)– TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a large(1) contract by Exxon Mobil Corporation (NYSE:XOM) subsidiary Esso Exploration and Production Guyana Limited (“EEPGL”) for the subsea system for the proposed Payara project.

TechnipFMC will manufacture and deliver the subsea production system, including 41 enhanced vertical deep water trees and associated tooling, six flexible risers and ten manifolds along with associated controls and tie-in equipment.

Arnaud Pieton, President Subsea stated: “We are delighted to take the next step in the partnership established with ExxonMobil and the country of Guyana for their subsea developments. As a continuation from Liza phase 1 and 2, this award is a tribute to the value created through this partnership and will also lead to growing further TechnipFMC’s local presence in Guyana. We continue to develop and deliver the most advanced proven subsea technologies enabling these developments with the schedule certainty required for the Payara Project first oil.”

In support of this project, TechnipFMC will continue hiring and training Guyanese engineers.

Payara is the second oil discovery in the Stabroek Block located approximately 193 km (120 miles) offshore Guyana with water depths of 1,500 m (4,900 ft) to 1,900 m (6,200 ft). ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is the operator.

(1) For TechnipFMC, a “large” contract ranges between $500 million and $1 billion.

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