TechnipFMC Awarded iEPCI™ Contract for bp's 20K Tiber Project in the Paleogene [Yahoo! Finance]
TechnipFMC plc Ordinary Share (FTI)
Last technipfmc plc ordinary share earnings: 4/22 04:15 pm
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Source: Yahoo! Finance
Installation (iEPCI™) contract by bp for its greenfield Tiber development in the Gulf of America. This direct award leverages the engineering and equipment in progress for bp's first 20,000 psi (20K) Paleogene project, Kaskida, which bp awarded to TechnipFMC in 2024. Jonathan Landes, President, Subsea for TechnipFMC, commented: "Building on the Kaskida iEPCI™ execution model and technologies, we are realizing the potential of repeatable and systematic delivery of integrated projects within an existing basin. This differentiated approach to technology-enabled greenfield development relies just as much on collaboration as it does technical innovation. We are excited to advance both through this project." (1) For TechnipFMC, the value of this contract is between $600 million and $800 million. This award was included in inbound orders in the fourth quarter of 2025. Important Information for Investors and Securityholders Forward-Looking Statement This release contains "forward-
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- TechnipFMC (NYSE:FTI) had its price target raised by analysts at TD Cowen from $47.00 to $56.00. They now have a "buy" rating on the stock.MarketBeat
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- TechnipFMC (NYSE:FTI) had its "positive" rating reaffirmed by analysts at Susquehanna.MarketBeat
- TechnipFMC Secures Major iEPCI Contract for BP's Tiber Field [Yahoo! Finance]Yahoo! Finance
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