TechnipFMC wins contract, told to continue for Yellowtail project (NYSE: FTI)

TechnipFMC wins contract, told to continue for Yellowtail project (NYSE: FTI)

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TechnipFMC (NYSE: FTI) said on Monday that it was awarded an additional contract and notice to continue with Exxon Mobil (XOM) to the Yellowtail development in the Stabroek block off Guyana.

The contract, which TechnipFMC (FTI) estimates at $ 75M- $ 250M, covers the supply of six flexible risers qualified to withstand high pressure and high temperature.

The company was also given full notice to continue with the previously announced contract for subsea production system at Yellowtail, following Exxon’s (XOM) final investment decision last month.

TechnipFMC (FTI) said it will provide project management, engineering, manufacturing and testing functions for the Yellowtail subsea production system, which includes 51 enhanced vertical deep-water trees and 12 manifolds.

“Exxon Mobil is a fantastic stock for an environment of high inflation,” writes The Value Portfolio in a bullish analysis recently published on Seeking Alpha.

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