Petropipe

TechnipFMC Awarded EPCI Contract for Woodside’s Lambert Deep and Greater Western Flank Fields in Australia

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 TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction and Installation contract by Woodside Energy Limited for the development of the Lambert Deep and Phase 3 of the Greater Western Flank fields, located offshore Northwestern Australia.

TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals for connection to the Angel platform.

This is the second contract under the recently announced five-year iEPCI™ Frame Agreement between TechnipFMC and Woodside.

Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are delighted to have been awarded another iEPCI™ project through our frame agreement with Woodside. This is Woodside’s second consecutive award adopting our Subsea 2.0 platform, confirming our common ambition to transform subsea economics through integration, standardization and configurability.”

The Angel platform is located about 120 kilometers north-west of Karratha and is connected to the North Rankin Complex (NRC) via a 50 kilometers subsea pipeline.

For TechnipFMC, a “significant” contract is between $75 million and $250 million

Important Information for Investors and Securityholders

Forward-Looking Statement

This 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 “believe”, “estimated” 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.

About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Source: https://bit.ly/3eHCCTI

6q

Woodside Is Pressing Ahead With Plans of $6b Senegal Oil Project

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Australia’s largest oil and gas producer Woodside is pressing ahead with its plans to develop Senegal’s first oil project, announcing the final field plan has now been submitted to the West African nation’s government for approval.

Describing the move as a “major milestone”, Woodside chief executive Peter Coleman said the project’s development plan was the last outstanding regulatory submission required before Woodside and its joint-venture partners could make a final investment decision later this month.

They look forward to continuing to work with the joint venture, the government, their contractors and other stakeholders to develop this opportunity, which will also be Senegal’s first oil project.

The first phase of the project is to develop 230 million barrels, with first oil targeted for early 2023, according to Woodside.

Senegalese oil producer Petrosen, which has a stake in the Sangomar project, said it was “excited about being in a position to take a final investment decision”.

Financing for the project has faced delays due to an arbitration sought by FAR Limited, which owns a 15 per cent interest in the project. FAR challenged Woodside’s acquisition of a 35 per cent holding from ConocoPhillips in 2016.

In a statement to the stock market on Tuesday, FAR said development of the “world-class” oil field in Senegal could transform FAR from an explorer to one of the biggest Australian-listed oil producers.

The Sangomar field development is anticipated to result in considerable cash generated for FAR and its shareholders from first oil in 2023, a time when FAR will also be one of the largest oil producers on the ASX,” Ms Norman said.

“This is an exciting time for the joint venture, the people of Senegal and FAR shareholders.”

The news comes as a final investment decision on another major Woodside project, the Scarborough gas field development, is a step closer after Woodside and its joint-venture partner BHP announced a deal to process gas at Woodside’s Pluto LNG facility last month.

Woodside and BHP, which has a 25 per cent stake in the Scarborough field off WA’s Pilbara coast, have inked a non-binding agreement that would see BHP make a decision on the project by mid-2020.

Source: https://www.woodside.com.au/