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TechnipFMC expects US$20Bn in subsea contracts in 2025, 2026
The offshore engineering contractor and hardware builder anticipates strong demand for subsea services through to 2030 as oil majors and state-run energy companies develop deepwater fields, particularly in Latin America
TechnipFMC expects to receive more than US$10Bn in subsea contracts during 2025, and a similar volume in 2026, as it enjoys rising demand for seabed oil and gas installations and hardware, especially in Africa, the Americas and Australia.
The Paris, France-headquartered offshore contractor forcasts demand for subsea hardware and installation services will remain strong for the rest of this decade, driven by deepwater projects in growth markets.
TechnipFMC gained US$2.4Bn in subsea contracts in Q3 2025 driven by continued strength in Latin America, where oil majors and state-run energy groups are developing huge hydrocarbon fields with floating production systems.
TechnipFMC’s orders from June to September included two from Petrobras for flexible flowlines and risers for projects in the Santos and Campos basins offshore Brazil, and another contract for subsea production systems for the Brazilian state energy group.
It also won a contract in Q3 2025 from ExxonMobil covering subsea production systems for the Hammerhead deepwater project in Guyana, which the US oil major is developing with a network of seabed infrastructure tied into a floating production storage and offloading (FPSO) vessel.
“This commercial success is the cornerstone of our ability to deliver growth in both revenue and profitability,” said TechnipFMC chairman and chief executive Doug Pferdehirt. “Inbound [orders] comprised multiple awards for flexible pipe and subsea production systems,” he said, highlighting the Hammerhead contract in particular as evidence of sustained demand for subsea production units.
“Our commercial success year-to-date reinforces our confidence in delivering more than US$10Bn of subsea orders in 2025,” said Mr Pferdehirt.
Rising demand for subsea infrastructure and installations has supported TechnipFMC’s growth in revenues and pretax earnings during 2025. It is also expected to sustain the group, which is based in Houston, USA, and Newcastle, UK.
“We believe that offshore projects will continue to receive an increasing share of capital investment,” said Mr Pferdehirt. “The change in spending allocation is due in part to the significant improvements made in developing the large, high-quality and prolific reservoirs found offshore,” he continued.
“Higher economic returns and greater project certainty are providing sustainability to current activity levels, underpinning our outlook in securing US$10Bn of subsea inbound orders in 2026. This also gives us confidence that activity will remain strong through the end of the decade.”
Mr Pferdehirt said innovations in subsea hardware and engineering execution is providing greater schedule certainty in project delivery and sustaining high demand.
TechnipFMC has reported growing revenues and earnings based on higher activity in its surface technologies, albeit far smaller than subsea, from projects in the North Sea and Asia Pacific, partially offset by lower activity in North America, while it has seen a drop in subsea activity in Norway.
The company’s total revenue in Q3 2025 was US$2,647M and net income was US$310M.
“We generated free cash flow of US$448M and distributed US$271M through dividends and share repurchases, continuing to deliver on our commitment to return a significant portion of free cash flow to shareholders,” said Mr Pferdehirt.
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