TECHNIPFMC SAYS THAT BRAZIL WILL HAVE HIGHEST NUMBER OF SUBSEA PROJECTS IN 2021

TechnipFMC’s expectations with the Brazilian market are high. The company recently released its 2020 financial results and also presented its outlook for this year. According to the company, Brazil will be the country with the highest number of new subsea project orders in 2021. The company has mapped eight opportunities for new contracts in the country, all involving pre-salt fields.

“In Subsea, our outlook reflects the renewed confidence of operators, given the better economic outlook, less market volatility and higher oil prices. For this year, we anticipate that Brazil will be the most active region in the world for new project orders, with growth also coming from the North Sea, Asia-Pacific and Africa ”, declared the company.

TechnipFMC received $ 4 billion of new orders last year and believes it may exceed that number in 2021. Worldwide, the company sees at least 23 new business opportunities, ranging from $ 250 million to more than US $ 1 billion. In Brazil, the projects in the company’s radar are Gato do Mato (Shell), Búzios 6, 7 and 8 (Petrobrás), Mero 3 and 4 (Petrobrás), BM-C-33 (Equinor) and Lapa (Total) .

“We are also experiencing a high level of front end activity, which should support a more sustainable recovery in deep waters and our expectation of continued order growth in 2022,” added the company. TechnipFMC’s subsea segment posted revenue of US $ 1.338 billion in the fourth quarter, a decrease of 10% over the previous year, mainly due to lower project activity in Norway and Brazil.

Source: PetroNoticias

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: