TechnipFMC upbeat on subsea growth prospects

TechnipFMC upbeat on subsea growth prospects

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01 November 2017

TechnipFMC sees potential for further major subsea contract awards this year and next, along with growth in subsea services and brownfield opportunities.

CEO Doug Pferdehirt said: "We also expect our 2018 Subsea inbound to exceed 2017 levels driven by the current momentum in project bid activity and an acceleration of integrated project awards.

"The market acceptance of our unique integrated subsea value proposition continues to accelerate. Our iFEED activity is robust, creating a set of proprietary project opportunities that could result in the direct award of iEPCI projects.

"To extend our differentiation and further improve project economics, we are increasing our investment in the development of next generation subsea systems and integrated technologies.”

Among the company’s current projects, the Deep Blue’s installation campaign at the Kaombo project offshore Angola finished in mid-September. Now the company’s Skandi Africa, supported by the North Sea Atlantic, is installing umbilicals and rigid and flexible spools.

Offshore northern Australia, the umbilicals are connected to the Shell Prelude FLNG vessel, which was moored in August, and the water intake riser has also been installed