Benzinga | Nov 15, 2021 04:46PM EST

TechnipFMC Wins Contract Between $500M-$1B By Exxon Mobile Affiliate, Esso Exploration & Production Guyana To Supply Subsea Production System For Yellowtail Development

TechnipFMC (NYSE:FTI) (PARIS:FTI) has been awarded a large(1) contract by Exxon Mobil Corporation (NYSE:XOM) affiliate, Esso Exploration and Production Guyana Limited, to supply the subsea production system for the Yellowtail development.

Subject to government approvals and final project sanction, TechnipFMC will provide project management, engineering, manufacturing and testing capabilities to deliver the overall subsea production system. The scope of the project includes 51 enhanced vertical deepwater trees (EVDT) and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

Jonathan Landes, President, Subsea at TechnipFMC, commented: "We are very excited to continue our relationship with ExxonMobil through this award, which is our fourth within the Stabroek block. We are proud of our dedicated Guyanese employees and are committed to the continued development and expansion of local capabilities."

TechnipFMC currently employs more than 60 Guyanese, and expects to continue to hire and train additional local staff in support of this award.

(1)For TechnipFMC, a "large" contract is between $500 million and $1 billion; the full contract award will not be included in inbound orders until the project receives final investment decision and government approvals.