TechnipFMC Secures Key iEPCI™ Contract from Woodside Energy for Xena Phase 3

TechnipFMC (NYSE: FTI) has secured a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Woodside Energy (LON: WDS) in Australia. For TechnipFMC, a "significant" contract is valued between $75 million and $250 million. This award will be recorded in the company's inbound orders for the second quarter of 2024.

TechnipFMC has been tasked with designing, manufacturing, and installing the subsea production system, flexible pipes, and umbilicals for the Xena Infill well (XNA03) as part of efforts to sustain production for the Pluto LNG Project. This contract follows a thorough integrated front-end engineering design (iFEED™) study.

The project will incorporate TechnipFMC's Subsea 2.0® production system. Xena Phase 3 will be connected to existing subsea infrastructure that TechnipFMC previously supplied.

Jonathan Landes, President of Subsea at TechnipFMC, remarked: "We are excited to deliver a fully integrated project from concept through execution. This project supports our long-term client's goals, highlighting the positive impact that iFEED™, iEPCI™, and Subsea 2.0® can have on project economics."

This contract represents the latest project under the ongoing framework agreement between Woodside Energy and TechnipFMC.

TechnipFMC stands out as a top-tier technology provider catering to both conventional and burgeoning energy domains, focusing on delivering fully integrated projects, products, and services. Utilizing its proprietary technologies and holistic solutions, TechnipFMC is revolutionizing the project economics of its clients, facilitating the exploration of novel avenues for energy resource development. This endeavor simultaneously reduces carbon intensity and reinforces their goals for transitioning towards sustainable energy. Structured into two business segments, Subsea and Surface Technologies, TechnipFMC remains committed to propelling the industry forward through groundbreaking integrated ecosystems like iEPCI™, iFEED™, and iComplete™, alongside its leadership in technology and digital innovation. Every one of TechnipFMC's roughly 21,000 employees is motivated by a dedication to client success and a culture characterized by robust execution, purposeful innovation, and the challenging of industry norms.

Woodside Energy, an Australian-founded global energy enterprise, is dedicated to delivering dependable and affordable energy solutions to enhance people's lives. Woodside Energy provides energy for residential heating and cooling, illumination, and industrial support. Positioned to prosper amid the worldwide energy shift, Woodside Energy pursues a portfolio characterized by low costs, reduced carbon footprint, profitability, resilience, and diversification. The merger with BHP's petroleum division has augmented the scope and diversification of Woodside Energy's global holdings, encompassing oil and gas assets and interests in Australia, the Gulf of Mexico, the Caribbean, Senegal, and Timor-Leste. Woodside currently oversees several projects in various stages of execution. Notably, the Scarborough and Pluto Train 2 projects in Australia attained a favorable final investment decision (FID) in November 2021, with the aim of delivering the first LNG cargo by 2026.