PARIS – TechnipFMC secured new orders totalling more than $2.2 billion during 3Q, its strongest quarter of the year to date.
According to Chairman and CEO Doug Pferdehirt, the sequential increase of 45% was driven largely driven by Subsea, with substantial project awards such as Payara in Guyana and Breidablikk offshore Norway.
He anticipated $4 billion of Subsea inbound orders for 2020 as a whole.
During the quarter, the company installed the electrically trace heated pipe-in-pipe for Neptune Energy’s Fenja-Njord tieback in the Norwegian Sea; helped BP achieve a fast-track start-up of Atlantis Phase 3 in the US Gulf of Mexico; installed two subsea trees for Woodside’s Pyxis project off Western Australia; and installed a Subsea 2.0 tree for Shell at the BC-10 block off Brazil, which is now operational.
Pferdehirt added: “We continue to apply digital technologies to enhance our customer offering and expand our market leadership.
“With Subsea Studio, we are leveraging our proprietary global database of projects to rapidly evaluate field development scenarios, which enables our ability to utilize machine learning and artificial intelligence.
“And our integrated and digitally enabled iComplete offering for surface well completions is providing significant cost and efficiency benefits with a dramatic reduction in components, connections, and operating costs.”