TechnipFMC and Saipem Announce SURF Commercial Agreement to Unlock New Opportunities
October 28 2021 - 1:30AM
Business Wire
Regulatory News:
TechnipFMC (NYSE: FTI) (PARIS: FTI) and Saipem (MILAN: SPM)
today announced the two companies have entered into a global
commercial agreement that will allow them to identify projects
worldwide that could be jointly executed for the benefit of
clients.
The commercial agreement will pursue specific Subsea Umbilicals,
Risers and Flowlines (SURF) projects where the combination of the
companies’ complementary world-class assets, technologies, products
and competencies improves project economics and de-risks the
overall project development for the benefit of all
stakeholders.
The collaboration will have access to a broad range of SURF
products and installation methods, providing greater operational
flexibility and optimized execution strategies under EPCI
(Engineering, Procurement, Construction and Installation) and
iEPCI™ (integrated Engineering, Procurement, Construction and
Installation) project execution models.
Jonathan Landes, President, Subsea, at TechnipFMC commented: “We
are very pleased to partner with Saipem for the creation of this
alliance. Working together with Saipem, we will be well-positioned
to efficiently utilize complementary assets and capabilities to
create differentiated technical solutions that further optimize
project execution. Importantly, the strengthened offering will also
expand the potential market for iEPCI™ opportunities when combined
with TechnipFMC’s innovative Subsea 2.0™ production systems.”
Stefano Porcari, Chief Operating Officer of the E&C Offshore
Division, at Saipem commented: “The SURF commercial agreement with
TechnipFMC represents an important milestone to offer a more
competitive and reliable value proposition to our clients. The
agreement will provide a pool of complementary enabling vessels and
facilities and a consolidated Reel laying and J-laying technology
base. Together we will be able to provide a full service for those
challenging developments requiring an ample range of technologies
and capabilities. We are very excited with this commercial
agreement and with the opportunities that will be released to the
benefit of our stakeholders.”
Important Information for Investors and
Securityholders
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 “expect,” “believe,”
“estimated,” 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, 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.
About TechnipFMC
TechnipFMC 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’ 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 — Subsea and Surface
Technologies — we will continue to advance the industry with our
pioneering integrated ecosystems (such as iEPCI™, iFEED™ and
iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a
commitment to our clients’ success, and a culture of strong
execution, purposeful innovation, and challenging industry
conventions.
TechnipFMC 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.TechnipFMC.com and follow
us on Twitter @TechnipFMC.
About Saipem
Saipem is an advanced technological and engineering platform for
the design, construction and operation of safe and sustainable
complex infrastructure and plants. Saipem has always been oriented
towards technological innovation and is currently committed,
alongside its clients, on the frontline of energy transition with
increasingly digitalised tools, technologies and processes that
were devised from the outset with environmental sustainability in
mind. It is listed on the Milan stock exchange and is organised
into five business divisions (E&C Offshore, E&C Onshore,
Drilling Offshore, Drilling Onshore and XSIGHT for consulting and
engineering services in the initial phases of projects). It
operates in over 60 countries around the world with 32 thousand
employees from 130 different nationalities.
Category: UK regulatory
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TechnipFMC Contacts
Investor relations Matt Seinsheimer Vice President,
Investor Relations Tel: +1 281 260 3665 Email: Matt Seinsheimer
James Davis Senior Manager, Investor Relations Tel: +1 281 260 3665
Email: James Davis
Media relations Nicola Cameron Vice President, Corporate
Communications Tel: +44 1383 742297 Email: Nicola Cameron Catie
Tuley Director, Public Relations Tel: +1 713 876 7296 Email: Catie
Tuley
Saipem Contacts Website: www.saipem.com Switchboard: +39
0244231 Media relations E-mail: media.relations@saipem.com Investor
Relations E-mail: investor.relations@saipem.com Contact point for
retail investors E-mail: segreteria.societaria@saipem.com
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