Technip Energies awarded a major contract by TotalEnergies for the topsides of the GrandMorgu FPSO unit in Suriname

Technip Energies (PARIS:TE), in partnership with SBM Offshore, has been awarded a major⁽¹⁾ contract by TotalEnergies for the GranMorgu Floating Production, Storage and Offloading vessel (FPSO) in Suriname.

Under this contract, the joint-venture between SBM Offshore and Technip Energies will construct and install a Floating Production, Storage and Offloading vessel (FPSO), leveraging Technip Energies’ expertise in engineering and modularization for the topsides and SBM Offshore’s Fast4Ward^® hull. 

Thanks to the joint expertise of the two companies, the project will be designed to minimize greenhouse gas emissions. It will include an all-electric drive FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs. There will be an optimized power usage with Waste Heat Recovery Units and optimized water cooling for improved efficiency. A permanent methane detection and monitoring system will be installed relying on a network of sensors.

Marco Villa, Chief Business Officer of Technip Energies commented: “We are delighted to have been chosen by TotalEnergies, together with our partner SBM Offshore, for the GranMorgu FPSO project in Suriname. By utilizing our modularization expertise, we will design the topsides of this all-electric drive FPSO and oversee the fabrication process in collaboration with our partner. This award highlights Technip Energies’ established capability to incorporate technologies that reduce greenhouse gas emissions in any type of industrial installation.”

This project is the first FPSO project in Suriname and is located in Block 58, circa 150 kilometers offshore Suriname.

(1) A “major” award for Technip Energies is a contract award representing above €1 billion of revenue.

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust Project Delivery model supported by an extensive Technology, Products and Services offering.

Operating in 34 countries, our 16,000 employees are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow. 

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over the counter.

For further information: www.ten.com

Forward-Looking Statements

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2023 Annual Financial Report filed on March 8, 2024 and in the Company’s 2024 Half-Year Report filed on August 1, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.