TechnipFMC (FTI) has been awarded a substantial contract by Shell (SHEL) Nigeria Exploration and Production Company Limited to supply Subsea 2.0 production systems for the Bonga North development in Nigeria. The contract covers the design and manufacture of subsea tree systems, manifolds, jumpers, controls, and services. Jonathan Landes, President, Subsea at TechnipFMC, commented: “Shell was the first to adopt our Subsea 2.0 configure-to-order solution, and continues to deploy it across multiple basins-underscoring its commitment to the technology globally. This award further positions us for future deepwater opportunities in the region.” For TechnipFMC, a “substantial” contract is between $250M and $500M. This award will be included in inbound orders in the fourth quarter of 2024.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FTI:
- TechnipFMC initiated with a Buy at Goldman Sachs
- TechnipFMC receives notice to proceed for NEP’s carbon capture project
- TechnipFMC upgraded to Buy from Hold at Jefferies
- TechnipFMC named a Best Idea for 2025 at TD Cowen
- TechnipFMC initiated with an Outperform at RBC Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
