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TechnipFMC (FTI) Gets EPCI Contract From TTE Offshore Brazil
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TechnipFMC (FTI - Free Report) declared that it was awarded a “significant” engineering, procurement, construction and installation (EPCI) contract by TotalEnergies (TTE - Free Report) for its Lapa North East field situated in the pre-salt Santos Basin offshore Brazil.
Per the contract, the French-American, U.K.-domiciled oilfield services major will reconfigure and set up umbilicals and flexible pipes in a new configuration that will further secure the production of the field.
Per TechnipFMC’s definition of a significant contract, the deal is worth somewhere between $75 million and $250 million.
Located in the pre-salt Santos Basin, the Lapa field commenced oil production in 2016 via the MODEC-supplied FPSO Cidade de Caraguatatuba MV27.
President, Subsea, at TechnipFMC, Jonathan Landes, mentioned that the Brazilian offshore market is becoming more diverse concerning the scope of work as well as customer opportunity. “On Lapa North East, we are working with a valued client with whom we have built a trusted relationship. By offering the flexibility of a phased campaign, we are helping TotalEnergies accelerate its schedule and begin production sooner," he added.
France-based TotalEnergies SE is among the top five publicly traded global integrated oil and gas companies based on production volumes, proved reserves and market capitalization. The company has operations in more than 130 countries across five continents. TTE was founded in 1924. The company has changed its name from TOTAL SE to TotalEnergies SE.
TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company reached its current form following the January 2017 merger between Technip and FMC Technologies.
The Zacks Consensus Estimate for Petrobras’ 2022 earnings stands at $5.43 per share, suggesting an increase of about 128.1% from the year-ago earnings of $2.38.
The Zacks Consensus Estimate for PBR’s 2022 earnings has been revised upward by about 15.5% over the past 60 days from $4.70 per share to $5.43 per share.
The Zacks Consensus Estimate for Liberty’s 2022 earnings is pegged at $1.70 per share, indicating an increase of about 266.7% from the year-ago loss of $1.02.
The Zacks Consensus Estimate for LBRT’s 2022 earnings has been revised upward by about 129.7% over the past 60 days from 74 cents to $1.70 per share.
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TechnipFMC (FTI) Gets EPCI Contract From TTE Offshore Brazil
TechnipFMC (FTI - Free Report) declared that it was awarded a “significant” engineering, procurement, construction and installation (EPCI) contract by TotalEnergies (TTE - Free Report) for its Lapa North East field situated in the pre-salt Santos Basin offshore Brazil.
Per the contract, the French-American, U.K.-domiciled oilfield services major will reconfigure and set up umbilicals and flexible pipes in a new configuration that will further secure the production of the field.
Per TechnipFMC’s definition of a significant contract, the deal is worth somewhere between $75 million and $250 million.
Located in the pre-salt Santos Basin, the Lapa field commenced oil production in 2016 via the MODEC-supplied FPSO Cidade de Caraguatatuba MV27.
President, Subsea, at TechnipFMC, Jonathan Landes, mentioned that the Brazilian offshore market is becoming more diverse concerning the scope of work as well as customer opportunity. “On Lapa North East, we are working with a valued client with whom we have built a trusted relationship. By offering the flexibility of a phased campaign, we are helping TotalEnergies accelerate its schedule and begin production sooner," he added.
France-based TotalEnergies SE is among the top five publicly traded global integrated oil and gas companies based on production volumes, proved reserves and market capitalization. The company has operations in more than 130 countries across five continents. TTE was founded in 1924. The company has changed its name from TOTAL SE to TotalEnergies SE.
TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company reached its current form following the January 2017 merger between Technip and FMC Technologies.
TechnipFMC currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Petrobras (PBR - Free Report) and Liberty Energy (LBRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Petrobras’ 2022 earnings stands at $5.43 per share, suggesting an increase of about 128.1% from the year-ago earnings of $2.38.
The Zacks Consensus Estimate for PBR’s 2022 earnings has been revised upward by about 15.5% over the past 60 days from $4.70 per share to $5.43 per share.
The Zacks Consensus Estimate for Liberty’s 2022 earnings is pegged at $1.70 per share, indicating an increase of about 266.7% from the year-ago loss of $1.02.
The Zacks Consensus Estimate for LBRT’s 2022 earnings has been revised upward by about 129.7% over the past 60 days from 74 cents to $1.70 per share.