Eni’s Major Indonesia Contract Win Could Be a Game Changer for TechnipFMC (FTI)

• Eni announced it awarded TechnipFMC a substantial integrated Engineering, Procurement, Construction, and Installation (iEPCITM) contract for the deepwater Maha project offshore Indonesia, valued between US$250 million and US$500 million.
• This marks Eni's first use of TechnipFMC's Subsea 2.0® technology in Indonesia and builds on their track record of successful regional collaboration, reinforcing both companies' presence in the Asia-Pacific offshore energy market.
• We'll now explore how this significant contract win and deployment of Subsea 2.0® technology may influence TechnipFMC's investment outlook.

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TechnipFMC Investment Narrative Recap

To be a shareholder in TechnipFMC, investors need to believe in the long-term durability of offshore oil and gas project demand and the company's ability to sustain a robust order backlog through technology leadership. The recent Eni contract win leverages TechnipFMC’s Subsea 2.0® technology and adds to the record pipeline of direct awards, reinforcing the most important near-term catalyst: continued order intake supporting high revenue visibility. However, the impact on the key risk, exposure to long-term decarbonization trends and shrinking fossil fuel demand, is not material at this stage.

Of recent announcements, the September 2025 ExxonMobil Guyana contract for subsea production systems is particularly relevant, as it further illustrates growing adoption of TechnipFMC’s integrated technologies across global deepwater projects. Together with the new Eni contract, these wins underscore the company’s differentiated market position and momentum in securing high-value, integrated offshore projects, important drivers as the subsea order backlog remains a critical short-term focus.

In contrast, while contracts build backlog and revenue visibility, investors should also consider the long-term implications for TechnipFMC if secular demand for oil and gas were to...

Read the full narrative on TechnipFMC (it's free!)

TechnipFMC's narrative projects $11.3 billion revenue and $1.2 billion earnings by 2028. This requires 5.8% yearly revenue growth and a $262.5 million earnings increase from $937.5 million today.

Uncover how TechnipFMC's forecasts yield a $45.75 fair value, in line with its current price.

Exploring Other Perspectives

Five fair value estimates from the Simply Wall St Community range from US$21.65 up to US$67.79 per share, showing widely differing opinions. Continued order growth and technology adoption, as seen with the Eni contract, add further context for those weighing the company’s future rewards and risks.

Explore 5 other fair value estimates on TechnipFMC - why the stock might be worth as much as 50% more than the current price!

Build Your Own TechnipFMC Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your TechnipFMC research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free TechnipFMC research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate TechnipFMC's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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