TechnipFMC Receives Notice to Proceed for Subsea Contract for Santos Barossa Project Offshore Australia

TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) today announced it has received a Notice to Proceed for a significant⁽¹⁾ subsea production system contract from Santos Ltd. (ASX: STO) for the Barossa project, located 300 kilometers north of Darwin, Australia, at a water depth of approximately 130 meters.

The contract scope covers the supply of subsea trees and associated control systems, manifolds and wellheads, as well as installation and commissioning support, which will help to extend the life of the existing Darwin LNG facility.

Jonathan Landes, President Subsea at TechnipFMC, commented: "We are very pleased to have been selected as a subsea partner for the Barossa project. This important award strengthens our relationship with Santos and further demonstrates our commitment to assist in the development of the Australian energy sector.”

⁽¹⁾ For TechnipFMC, a "significant” contract ranges between $75 million and $250 million.

Note: this inbound order was included in the Company’s first quarter financial results.

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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.

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