Middle East

Over 350 undersea trees ordered in 2022,

February 24, 2022

© TechnipFMC

Oilfield service giant TechnipFMC expects to order more than 350 undersea trees worldwide in 2022. This is a level that hasn’t been seen in the last few years.

Oilfield equipment and services companies expect full-year 2021 inbound orders in the undersea segment to reach $ 5 billion, up 24% compared to 2020, and further increase in undersea orders in 2022.

TechnipFMC’s undersea orders for the fourth quarter of 2021 were just over $ 1 billion, up 45.3% from the fourth quarter of 2020, when inbound undersea orders were around $ 712 million.

Among the 4Q orders are Guyana’s Exxon to supply a long-term charter and service with Petrobras on the pipeline support ship Coraldo Atlântico, and a submarine production system for brit development including 51 enhanced vertical deep sea trees. There is a large deal (EVDT) and related tools and other equipment.

Doug Ferdehilt, Technip FMC Chairman and CEO, said: Part of the growth reflects continued strong front-end activity. Our early involvement and client partnerships support our view that industry-wide undersea tree awards are likely to exceed 350 this year. This is a level not seen since 2013. ”

“Technip FMC predicts that inbound orders on the seabed will increase by up to 30% in 2022. iEPCI ™Direct awards and undersea services are approaching 75% of orders, “he said.

Pferdehirt said: Since 2015, the offshore economy has improved significantly and underwater cycle times have been significantly reduced. This allows new undersea investments to be made much earlier in the cycle, more parallel to the US land market. We believe that these changes are fundamental and sustainable as a result of the new business models and technologies we have pioneered. ”

https://www.oedigital.com/news/494564-more-than-350-subsea-trees-to-be-ordered-in-2022-level-not-seen-since-2013-technipfmc-says Over 350 undersea trees ordered in 2022,

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