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Technip inks long-term offshore services contract with Saudi Aramco

Oil and gas services provider TechnipFMC PLC announced Jan. 7 it has signed an offshore agreement with Saudi Arabian Oil Co., which is effective for six years.

The agreement covers engineering, procurement, fabrication, transportation and installation of offshore facilities. No financial details were provided.

The U.K.-based company disclosed in December 2018 it targets a revenue of around US$14 billion for 2019. It consists of $5.4 billion to $5.7 billion from subsea operations, $5.7 billion to $6 billion from onshore and offshore projects, and $1.7 billion to $1.8 billion from surface technologies.

For the third quarter, the company reported a net income of $136.9 million, up 13.1% from $121 million for the same period in 2017.