{"id":759641,"date":"2023-05-18T16:20:48","date_gmt":"2023-05-18T20:20:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/technipfmc-awarded-significant-riserless-light-well-intervention-rlwi-contract-by-equinor\/"},"modified":"2023-05-18T16:20:48","modified_gmt":"2023-05-18T20:20:48","slug":"technipfmc-awarded-significant-riserless-light-well-intervention-rlwi-contract-by-equinor","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/technipfmc-awarded-significant-riserless-light-well-intervention-rlwi-contract-by-equinor\/","title":{"rendered":"TechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor"},"content":{"rendered":"

<\/p>\n

\nTechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor<\/p>\n

NEWCASTLE & HOUSTON–(BUSINESS WIRE<\/a>)–
\nTechnipFMC (NYSE: FTI) has been awarded a significant(1)<\/sup> contract by Equinor to provide riserless light well intervention (RLWI) services on the Norwegian Continental Shelf.<\/p>\n

\nThe two-year contract runs from 2024 to 2025, with options to extend for each of the three subsequent years. TechnipFMC will provide production enhancement, production data, and pre-plug-and-abandonment services to Equinor using the RLWI<\/a> method.<\/p>\n

\nRLWI enables well interventions from a monohull vessel, eliminating the need for a riser and the rig required to connect the riser to the subsea well. Instead, remotely operated Well Control Systems are used to facilitate operations on the seabed. This reduces cost and complexity, increases efficiency, and accelerates the timeframe for increased production.<\/p>\n

\nJonathan Landes, President, Subsea at TechnipFMC, commented: \u201cTechnipFMC has been providing RLWI services to Equinor since 2006. Over that period, the average duration of an intervention has been reduced by nearly two-thirds thanks to improvements in process and technology, aided by the collaborative relationship with Equinor\u2019s dedicated RLWI team. It is a pleasure to continue developing that relationship as we help our client meet demand for energy.\u201d<\/p>\n

(1<\/i>) For TechnipFMC, a \u201csignificant\u201d contract is between $75 million and $250 million. This award will be included in inbound orders in the second quarter of 2023.<\/i><\/p>\n

Important Information for Investors and Securityholders<\/b><\/p>\n

\nForward-Looking Statement<\/p>\n

\nThis release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words \u201cexpect,\u201d \u201cbelieve,\u201d \u201cestimated,\u201d and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.<\/p>\n

About TechnipFMC<\/b><\/p>\n

\nTechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.<\/p>\n

\nWith our proprietary technologies and comprehensive solutions, we are transforming our clients\u2019 project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.<\/p>\n

\nOrganized in two business segments \u2014 Subsea and Surface Technologies \u2014 we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI\u2122, iFEED\u2122 and iComplete\u2122), technology leadership and digital innovation.<\/p>\n

\nEach of our approximately 20,000 employees is driven by a commitment to our clients\u2019 success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.<\/p>\n

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<\/a> and follow us on Twitter @TechnipFMC.<\/b><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230518005604\/en\/<\/a><\/span><\/p>\n

Investor relations
\n
<\/b>
Matt Seinsheimer
\n
Senior Vice President, Investor Relations and Corporate Development
\n
Tel: +1 281 260 3665
\n
Email: Matt Seinsheimer
\n<\/a><\/p>\n

James Davis
\n
Director, Investor Relations
\n
Tel: +1 281 260 3665
\n
Email: James Davis<\/a><\/p>\n

Media relations
\n
<\/b>
Catie Tuley
\n
Director, Public Relations
\n
Tel: +1 713 876 7296
\n
Email: Catie Tuley
\n<\/a><\/p>\n

David Willis
\n
Senior Manager, Public Relations
\n
Tel: +44 7841 492988
\n
Email: David Willis<\/a><\/p>\n

KEYWORDS:<\/b> Texas Europe United States United Kingdom North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Manufacturing Construction & Property Maritime Other Energy Engineering Transport Oil\/Gas Manufacturing Energy Other Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor NEWCASTLE & HOUSTON–(BUSINESS WIRE)– TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract by Equinor to provide riserless light well intervention (RLWI) services on the Norwegian Continental Shelf. The two-year contract runs from 2024 to 2025, with options to extend for each of the three subsequent years. TechnipFMC will provide production enhancement, production data, and pre-plug-and-abandonment services to Equinor using the RLWI method. RLWI enables well interventions from a monohull vessel, eliminating the need for a riser and the rig required to connect the riser to the subsea well. Instead, remotely operated Well Control Systems are used to facilitate operations on the seabed. This reduces cost and complexity, increases … <\/p>\n

Continue reading “TechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-759641","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/technipfmc-awarded-significant-riserless-light-well-intervention-rlwi-contract-by-equinor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TechnipFMC Awarded Significant Riserless Light Well Intervention (RLWI) Contract by Equinor NEWCASTLE & HOUSTON–(BUSINESS WIRE)– TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract by Equinor to provide riserless light well intervention (RLWI) services on the Norwegian Continental Shelf. The two-year contract runs from 2024 to 2025, with options to extend for each of the three subsequent years. TechnipFMC will provide production enhancement, production data, and pre-plug-and-abandonment services to Equinor using the RLWI method. RLWI enables well interventions from a monohull vessel, eliminating the need for a riser and the rig required to connect the riser to the subsea well. Instead, remotely operated Well Control Systems are used to facilitate operations on the seabed. 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