TechnipFMC’s order backlog increases to record $15.8bn

GlobalData

Fri, Apr 25, 2025, 8:13 AM 2 min read

TechnipFMC saw its bid backlog summation by 17.2% to $15.82bn successful the archetypal 4th of 2025 (Q1 2025), compared with $13.49bn successful the aforesaid play past year.

The institution is mounting its sights connected 2 caller subsea contracts perchance valued astatine much than $2bn combined. These opportunities are portion of TechnipFMC’s people database for the coming 2 years, which is estimated to transcend $26bn successful total.

TechnipFMC reported a flimsy alteration successful quarterly results, with a dip successful nett net contempt an summation successful nett revenues.

The maturation successful the subsea part was not capable to offset the diminution successful aboveground technologies, which experienced little planetary enactment than anticipated.

TechnipFMC main enforcement Doug Pferdehirt highlighted the value of the caller subsea opportunities, stating: “Our Subsea Opportunities List present highlights much than $26bn of inbound opportunities implicit the adjacent 24 months, erstwhile utilizing the midpoint of task values.

“Putting this into perspective, the worth of this database has grown astir 20% implicit the past 12 months and represents the 3rd consecutive quarterly increase. The accidental acceptable is besides supported by aggregate caller frontiers including Guyana, Suriname, Namibia, Mozambique and Cyprus, each of which contiguous semipermanent opportunities with improvement beingness cycles that widen good beyond the extremity of the decade.”

The Grosbeak improvement operated by Equinor successful the Norwegian North Sea and Petrobras’ Buzios-12 task successful the Santos basin offshore Brazil are among the caller prospects.

The Grosbeak declaration is estimated to beryllium worthy betwixt $500m and $1bn, portion the Buzios-12 task could transcend $1bn successful value.

Despite the diminution successful quarterly profit, which fell 9.6% to $142m successful Q1 2025 from $157.1m successful the aforesaid play the erstwhile year, the institution saw a emergence successful nett gross by 9.4%, from $2.04bn to $2.23bn.

Adjusted net earlier interest, taxes, depreciation and amortisation (EBITDA) besides saw a important summation of 36.1% to $343.8m.

Pferdehirt added: “While commodity prices are a superior adaptable successful our clients’ decisions to determination guardant connected a development, the interaction they person connected the economical feasibility of a task tin disagree importantly by portion and resource. We proceed to judge that offshore volition stay a preferred concern of operators, with deepwater attracting a increasing stock of planetary superior flows, driven by much-improved economical returns and wide entree to these resources.

"This gives america continued assurance successful delivering much than $10bn of Subsea inbound successful 2025.”

"TechnipFMC’s bid backlog increases to grounds $15.8bn" was primitively created and published by Offshore Technology, a GlobalData owned brand.