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TechnipFMC lands another subsea contract with Petrobras

TechnipFMC lands another subsea contract with Petrobras
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TechnipFMC plc: TechnipFMC Announces First Quarter 2021 Results

TechnipFMC plc: TechnipFMC Announces First Quarter 2021 Results Cash flow from continuing operations $182 million, free cash flow $137 million Subsea inbound orders more than doubled sequentially to $1.5 billion New partnerships leverage subsea expertise for integrated wind, wave energy Regulatory News: Summary Financial Results from Continuing Operations Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules. Three Months Ended March 31, $0.95 $(0.03) (11.9%) Total Company revenue in the first quarter was $1,632 million. Income from continuing operations attributable to TechnipFMC plc was $430.3 million, or $0.95 per diluted share. These results included income from the Company s equity investment in Technip Energies of $470.1 million primarily related to a favorable change in fair market value. After-tax charges and credits totaled $444.8 million of credit, or $0.99 per diluted share. Adjusted loss from continuing operations

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New Use for Orphaned Oil Wells and More

Here are some of Rigzone s top upstream stories during the last week, just in case you missed them. Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them… A New Use for Orphaned Oil and Gas Wells? Petrolern LLC, an Atlanta-based service and technology firm specializing in subsurface engineering and downhole tools, is looking to repurpose some orphaned oil and gas wells to produce geothermal energy. Read full article here Maersk Drilling Enters Market with New Customer Karoon Energy Ltd. has awarded Maersk Drilling a four-well intervention contract offshore Brazil. Under the 110-day contract, the Maersk Developer semi-submersible rig will perform well intervention on four wells at the Baúna field.

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Brazil: TechnipFMC awarded a significant subsea contract for Petrobras Marlim and Voador fields

Brazil: TechnipFMC awarded a significant subsea contract for Petrobras’ Marlim and Voador fields 21 Apr 2021 (1) subsea contract from Marlim and Voador fields, located offshore Brazil. TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes associated tools, spares and services. The RVC is a unique robotic technology that replaces traditional subsea hydraulics, as well as thousands of mechanical parts, while providing real-time data and analysis on system performance. This results in a manifold that is smaller, less complex and less costly with a significantly reduced carbon footprint. Moreover, the RVC’s software can be remotely upgraded and maintained subsea, increasing the overall reliability and availability of the subsea system.

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TechnipFMC Wins Petrobras Subsea Contract

Petrobras has awarded TechnipFMC a subsea contract for two of its offshore Brazil fields. Petrobras (NYSE: PBR) has awarded TechnipFMC (NYSE: FTI) (PARIS: FTI) a subsea contract for its Marlim and Voador fields offshore Brazil, TechnipFMC reported Wednesday. “We are honored that Petrobras has selected us to support the ongoing development of the Marlim and Voador fields,” remarked Jonathan Landes, president for subsea at TechnipFMC, in a written statement emailed to Rigzone. “We look forward to executing this project using our local capabilities in Brazil and contributing to another important development in the country.” TechnipFMC stated that it will supply up to eight manifolds for production and injection under the contract, using all-electric Robotic Valve Controller (RVC) technology. The company explained that RVC replaces traditional subsea hydraulics, along with thousands and mechanical parts, while providing real-time data and analysis on system performance.

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