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TechnipFMC (NYSE: FTI) today announced the signing of a Memorandum of Understanding (MoU) with BP,OTC:BPAQF Exploration & Production Inc., a subsidiary of BP,OTC:BPAQF p.l.c. (NYSE: BP,OTC:BPAQF), which sets out a framework for BP,OTC:BPAQF and TechnipFMC to cooperate in connection with the supply of 20,000 psi (20K) subsea tree systems for BP,OTC:BPAQF's Paleogene projects in the Gulf of America.
The MoU allows both parties to identify and work cooperatively on early opportunities and future technology development in support of greater schedule certainty and improved project outcomes.
Doug Pferdehirt, Chair and CEO at TechnipFMC, commented: "The MoU reflects our commitment to advancing the deployment of standardized 20K solutions. By combining proven technologies with repeatable and systematic project delivery, TechnipFMC can help improve predictability and performance across future developments."
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients' project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI ® , iFEED ® and iComplete ® ), technology leadership and digital innovation.
Each of our approximately 22,000 employees is driven by a commitment to our clients' success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on X @TechnipFMC.
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