TechnipFMC Awarded iEPCI® Contract for PETRONAS’ Limbayong Project Offshore Malaysia

UBS initiated coverage on TechnipFMC (NYSE:FTI) with a buy rating and $89 price target, citing subsea growth and backlog conversion. The stock trades at $69.75. UBS forecasts $11B in subsea orders by 2027 and $2.77B in 2028 EBITDA, above consensus. TechnipFMC reported Q2 2026 earnings of $0.91 per share on $2.76B revenue, beating estimates. The stock is up 56.9% year-to-date.

TechnipFMC (FTI) won a $75M-$250M contract from Petrobras to supply flexible pipe systems for Brazil's pre-salt fields. The project involves local engineering and manufacturing, supporting Petrobras' offshore developments.

TechnipFMC (FTI) secured a subsea contract from Petrobras, valued between $75M and $250M, for flexible pipe systems in Brazil's pre-salt fields. The contract is expected to be booked in Q3 2026, according to the company.

TechnipFMC (FTI) shares rose 3.3% after its 66kV Dynamic Inter-Array Cable achieved CIGRE TB 862 qualification for floating wind, following 1.5M flex-fatigue cycles. The stock closed at $70.31, up 2.2%. FTI is up 48.6% YTD but 12.2% below its 52-week high. The company will showcase the system at the Floating Offshore Wind 2026 conference.

TechnipFMC (FTI) secured a $75M-$250M contract from PETRONAS for the Limbayong deepwater project in Malaysia, utilizing its Subsea 2.0 technology. The deal is expected to be recognized in Q3 2026 and strengthens FTI's position in the offshore subsea market.

TechnipFMC won a $75M-$250M iEPCI contract from Petronas for the Limbayong deepwater project, to be booked in Q3 2026. The contract covers subsea engineering, procurement, and installation for 10 wells and an FPSO unit. The project aims to develop 139M barrels of oil and 784Bcf of gas, with TechnipFMC using its Subsea 2.0 platform to improve efficiency.