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FTI News
FTI Events
TechnipFMC Awarded $75M to $250M Contract by Azule Energy
TechnipFMC has been awarded a significant(1) contract to supply flexible flowlines and risers by Azule Energy for the West Hub Tails project, an extension of the Block 15/06 Agogo Integrated Development. Under this award, TechnipFMC will design and manufacture flexible flowlines, risers, and associated equipment to accommodate all production from the West Hub area for consolidation into the Agogo Floating Production, Storage, and Offloading vessel. For TechnipFMC, a "significant" contract is between $75 million and $250 million. This award will be included in inbound orders in the third quarter of 2026.
TechnipFMC Q2 Revenue $2.76B Beats Expectations
Reports Q2 revenue $2.76B, consensus $2.67B. CEO Doug Pferdehirt remarked, "I am pleased to share with you another strong set of financial results, demonstrating our ability to consistently execute at a very high level. Total company revenue in the period was $2.8B, with adjusted EBITDA of $601M when excluding foreign exchange impacts. We generated free cash flow of $488M and distributed $440M through dividends and share repurchases, delivering on our commitment to return the majority of free cash flow to shareholders. We achieved $2.5B of Subsea inbound in the quarter, including four announced awards...We will continue to benefit from a resilient and expanding offshore market. We remain confident in achieving $10B of Subsea inbound in 2026, followed by a step-up in orders in 2027, which we believe will extend through the end of the decade. Importantly, as our clients move toward more collaborative approaches to develop their offshore portfolios, we will leverage our iEPCI execution model and our configurable solutions to drive further efficiencies and higher capital returns for both our customers and TechnipFMC."
TechnipFMC Reaffirms 2026 Guidance
TechnipFMC reaffirms 2026 guidance
TechnipFMC Awarded Multiple Contracts by Equinor Worth Up to $500 Million
TechnipFMC (FTI) has been awarded multiple contracts by Equinor (EQNR) for a portfolio of subsea tie-back developments offshore Norway. TechnipFMC will design and manufacture subsea production systems and associated controls for the Omega Sor, Brime, and Tyrihans Nord brownfield projects. TechnipFMC will also install rigid pipe on the TWIN development. Jonathan Landes, President, Subsea at TechnipFMC, commented: "We are pleased to support Equinor's strategy to unlock additional resources and extend the life of existing infrastructure on the Norwegian Continental Shelf. By leveraging our standardized subsea solutions, we can help deliver these projects reliably while creating long-term value for Equinor." For TechnipFMC, the total value of these contracts is between $250M and $500M. These awards were included in inbound orders in the second quarter of 2026.
TechnipFMC Awarded Large Contract by Var Energi
TechnipFMC has been awarded a large integrated engineering, procurement, construction, and installation contract by Var Energi for the Ofelia and Gjoa Nord projects in the Gjoa area of the North Sea. This direct award follows a five-year collaboration agreement signed in 2025 to deliver subsea projects utilizing TechnipFMC's integrated model and accelerate development through coordinated portfolio execution. Jonathan Landes, President, Subsea at TechnipFMC, commented: "Var Energi is applying a portfolio approach in the Gjoa area to reduce project cycle time and improve project returns. This approach requires deep collaboration and is enabled by TechnipFMC's unique integrated execution model. We are pleased to support Var Energi's ambition to deliver first oil within two years." For TechnipFMC, a "large" contract is between $500M and $1B. The majority of inbound associated with this award will be included in the second quarter of 2026, with a portion included in prior quarters.
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