TechnipFMC plc announced on December 18 2025 that it has secured a substantial Engineering, Procurement, Construction and Installation (EPCI) contract from Eni S.p.A. for the Coral North floating liquefied natural gas (FLNG) development offshore Mozambique. The award, valued between $250 million and $500 million, will see TechnipFMC manufacture and install flexible flowlines, risers, subsea manifolds and umbilicals in water depths of roughly 2,000 meters.
The Coral North project is the second FLNG development in Mozambique, following the world’s first ultra‑deep‑water FLNG, Coral South. The project is part of Eni’s consortium that includes CNPC, Kogas, ENH and ADNOC’s subsidiary XRG, and it is expected to start production in 2028 after a Final Investment Decision reached in October 2025. TechnipFMC’s Subsea 2.0 product architecture and iEPCI model are central to the delivery strategy, promising faster construction and lower cost through industrialized, standardized subsea solutions.
The contract adds a significant order to TechnipFMC’s backlog, which grew from $13.89 billion in Q2 2024 to $15.8 billion in Q1 2025 and reached $16.6 billion in Q2 2025. The Coral North award is included in the company’s inbound orders for the second quarter, contributing to $2.8 billion of new orders, of which $2.6 billion are subsea projects. The addition reinforces the company’s strong order book and provides a clear revenue and margin trajectory over the next several years.
TechnipFMC’s leadership in ultra‑deepwater FLNG is reinforced by this win. The award demonstrates the company’s ability to secure large, technically demanding projects in emerging offshore LNG markets, and it highlights the commercial viability of its Subsea 2.0 and iEPCI platforms. The contract’s value and scope are expected to generate substantial revenue and margin contribution, supporting the company’s growth strategy and sustaining its competitive moat in the offshore LNG supply chain.
The Coral North contract underscores TechnipFMC’s strategic focus on Mozambique’s Rovuma Basin, a region with significant natural gas potential. By partnering with Eni and its consortium, TechnipFMC positions itself to capture further upside as global LNG demand expands and as the company continues to deliver complex subsea systems efficiently and cost‑effectively.
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