Liza Tier 1 contractor TechnipFMC to supply Chevron with wellhead equipment

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TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has signed a Surface Technologies Frame Agreement with Chevron.

This 5-year agreement covers the exclusive supply of surface wellhead equipment and service in the United States and Canada.

Richard Alabaster, President of TechnipFMC’s Surface Technologies business, said, “We are very pleased to extend our partnership with Chevron and to support their development program in North America. We believe that this reflects the strong collaboration we have developed with this major shale operator, based on the demonstrated value of our integrated drilling and completion offering.”

TechnipFMC has been awarded contracts by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. for the engineering of the subsea systems for the Liza Phase 1 and proposed Liza Phase 2 project in Guyana.

Liza Phase 1 will begin producing oil by 2020 and Phase 2 is expected to come on stream by 2022.

ExxonMobil is operator in the 6.6 million acres Stabroek Block with 45% interest, while Hess has 30% and CNOOC Nexen 25%.