Guyana & Brazil make South America TechnipFMC’s most important subsea market – CEO

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Chairman and Chief Executive Officer (CEO) of TechnipFMC, Doug Pferdehirt, has deemed South America to be by far, the most important market for its subsea business this decade. During his company’s 2021 third quarter earnings call, the Chairman said Brazil is not the only country that placed South America atop its global portfolio. He said Guyana has proven to be quite the market and now a crucial part of its business.

Pferdehirt said, “…Guyana is hugely important to us. We are deeply grateful for the relationship that we have with ExxonMobil and Hess in the country and that we’ve been able to supply all of the Subsea equipment in Brazil to date and continue to drive project performance and hopefully future awards in Guyana. So, Guyana is very important.”

The CEO added, “We know that Suriname and other areas are beginning to develop later in the decade. I would say, towards the end of the decade, we would anticipate Mexico as well as being potentially a very important country…in terms of Subsea of business.”

Turning his attention to Brazil, the CEO said TechnipFMC has been there for five decades while noting that it has a 98% local content footprint in its business. He said too that the company has more capabilities in Brazil than in any other country in terms of manufacturing, the fleet and the people.

As another testimony of the long, rich history it has in Brazil, the CEO noted that TechnipFMC has reached the manufacturing of its 700th tree in Brazil. “So, it’s a very, very significant market for us. We’re very, very proud. We feel very privileged…”

With respect to his company’s fiscal performance, he noted that the quarter reflected continued revenue strength as it raked in US$1.6 billion.

In Guyana, TechnipFMC has been awarded contracts by ExxonMobil for the production of the subsea systems for the Liza Phase 1 and 2 projects as well as the Payara Development.

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