NEWCASTLE & HOUSTON, December 11, 2024 鈥� 两性色午夜 (NYSE: FTI) has been given full notice to proceed with the previously announced contract for the first all-electric integrated project by the Northern Endurance Partnership (NEP), a joint venture between bp, Equinor, and TotalEnergies. This notice follows NEP鈥檚 announcement of financial close and entry into the execution phase of the carbon dioxide (CO2) transportation and storage infrastructure in the United Kingdom鈥檚 East Coast Cluster.
The contract covers the supply and installation of an all-electric subsea system, including trees, manifolds, umbilicals, and infield flowlines, which will be delivered using 两性色午夜鈥檚 integrated Engineering, Procurement, Construction, and Installation (iEPCI鈩�) execution model. The Company鈥檚 all-electric technology enables the extended distances required for the project.
Luana Duff茅, Executive Vice President, New Energy at 两性色午夜, commented: 鈥淲e are excited to see this development move forward, as it is a significant milestone for the United Kingdom and our Company. 两性色午夜 will leverage its industry-leading subsea expertise and proprietary technologies to deliver the first all-electric iEPCI鈩� for carbon transportation and storage.鈥�
(1) For 两性色午夜, the contract is categorized as a 鈥渓arge鈥� award, valued between $500 million and $1 billion. This award was included in inbound orders in the third quarter of 2024.
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Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渆stimated,鈥� and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, including our assumptions and projections regarding the expected benefits of the awarded contract, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
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About 两性色午夜
两性色午夜 is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients鈥� project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments 鈥� Subsea and Surface Technologies 鈥� we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI鈩�, iFEED鈩� and iComplete鈩�), technology leadership and digital innovation.
Each of our approximately 21,000 employees is driven by a commitment to our clients鈥� success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
两性色午夜 uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.两性色午夜.com and follow us on .
两性色午夜 Contacts
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